The services are provided to you by Al Jaber Exchange which shall also be referred to as “our,” “we,” and “us.”
These Terms & Conditions apply to the use of our services available from all the branches. In its sole discretion, we reserve the right to change these ‘Terms of Service’ from time to time and will supersede and replace any terms and conditions we have previously issued concerning our provision of services to you.
These Terms & Conditions constitute the entire agreement between you and us with respect to their subject matter and supersede and replace all prior agreements between us.
You understand and confirm that by accepting these Terms & Conditions during the use of our services at our branches, you agree to abide by these Terms & Conditions concerning your use of the Service, physical location, and governing laws and regulations.
Al Jaber Exchange may engage the services of one or more affiliates, subsidiaries, agents, or subcontractors to fulfil our obligations.
If there is any part of these Terms & Conditions, you do not understand or wish to clarify, please get in touch with us at email id – customercare@ajex.ae. We may disclose information about you to (any of our employees, officers, agents, or outsourced service providers) insofar as reasonably necessary for the purposes as set out herein. In addition, we may disclose information about you to the extent that we are required to do so by law;
Customers must update their ID details annually or after expiry, whichever is earlier.
Al Jaber Exchange uses only official documents for all transactions when dealing with customers.
All the transfer orders will be processed on the business day of the sender or receiver side of the country or on a day that is not a Business Day, and the Payment Order will be deemed to have been received on the next Business Day.
Registration Process
Users must meet a minimum age requirement of 18 years in order to access our services.
The following documents must be provided as part of the Know your customer procedure. Emirates ID; or Passport with valid visa; or GCC National ID for GCC nationals.
The following information, at the minimum but not limited to, will be collected and recorded at Al Jaber Exchange, full name, date of birth, residential address, mobile phone number, ID Details, profession, expected annual activity, beneficiary details, email address, etc.
Al Jaber Exchange reserves the right to restrict the customer onboarding due to any legal restrictions by the law; otherwise, Al Jaber Exchange ensures Fair & Equal treatment to all customers.
Customer requires to provide us with valid, accurate, current, and complete evidence of your identity and promptly update your personal information if and when it changes;
Al Jaber Exchange will be using your data for communication on transactional, promotional, and marketing about the products and services from time to time. We will allow you to opt out of our promotional and marketing communication. You may also contact us at customercare@ajex.ae to opt-out.
Use of Service
Users must meet a minimum age requirement of 18 years in order to access our services.
The following documents must be provided as part of the Know your customer procedure. Emirates ID; or Passport with valid visa; or GCC National ID for GCC nationals.
Transaction executed using the payment mode cheque or direct transfer to our account will be processed subject to cheque realization and the amount credited in our bank account.
The following information, at the minimum but not limited to, will be collected and recorded at Al Jaber Exchange, full name, date of birth, residential address, mobile phone number, ID Details, profession, expected annual activity, beneficiary details, email address, etc.
Al Jaber Exchange reserves the right to restrict the customer onboarding due to any legal restrictions by the law; otherwise, Al Jaber Exchange ensures Fair & Equal treatment to all customers.
Customer requires to provide us with valid, accurate, current, and complete evidence of your identity and promptly update your personal information if and when it changes;
Al Jaber Exchange will be using your data for communication on transactional, promotional, and marketing about the products and services from time to time. We will allow you to opt out of our promotional and marketing communication. You may also contact us at customercare@ajex.ae to opt-out.
Al Jaber Exchange shall inform the Customer about service charges, conversion rates, and the estimated transfer time before performing the remittance transaction. However, the estimated delivery time may differ for reasons beyond our control.
Correspondent or intermediary charges apply to certain countries, and the costs will be deducted at the receiving end.
The Customer would be provided with a draft receipt to verify the details provided to us for executing the transaction. Upon signing the receipt, the Customer confirms and acknowledges the transaction details’ correctness, authenticity, and legality.
Al Jaber Exchange reserves the right to use the services of its intermediary banks and financial institutions to execute the transfer in any country of its choice.
Suppose the provided cheque is rejected for any reason. In that case, the Customer agrees to settle the total amount in cash along with any variations in the currency rate and other corresponding charges. If the issue is not resolved amicably, Al Jaber Exchange shall have the right to cancel the transaction without notice & take all necessary legal actions to protect its rights and recover all related claims.
In no event shall the Al Jaber Exchange be liable for any direct, special, indirect, or consequential damages, or any other damages of any kind, including but not limited to loss of use, loss of profits, etc. for any delay in transaction due to which a commitment has not completed.
Transactions made by you exceed a threshold established by us from time to time. The Customer or beneficiary will require to provide necessary documents and clarification if raised any query regarding the relevant transaction, which may include but is not limited to the source of the fund, the purpose of the transaction, etc.
Once the currency is bought or sold, it can be returned only with a new transaction at the prevailing market rate.
Please count your money before leaving the counter and obtain a receipt for your transaction. No Al Jaber Exchange or its employees will be held liable for any claims or shortages.
Al Jaber Exchange has the right to recover any amount paid in excess to the customer due to errors and oversights.
Al Jaber Exchange will not be responsible for any error or omission of details provided by the employer for salary processing.
Al Jaber Exchange will try to resolve the error or omission but will not be liable for the delay or loss due to employer negligence.
Al Jaber Exchange will not be liable for any fines or non-renewal of license or visa to employer or company by the relevant competent authority for the delay in salary processing.
We will process the salary file as received by the company or employer and ensure to upload the salary to the respective employee’s payroll card or account. We will not be liable for any employee dissatisfaction concerned with the employer or company action regarding the salary processing.
Al Jaber Exchange liaises with the third party for payroll card issuance. We will not be liable for any delay beyond our control, but we will try to resolve the concern with total effort.
Al Jaber Exchange will not be responsible for theft or fraud using the payroll card. It’s the cardholder’s sole responsibility to ensure the cards’ safety.
Al Jaber Exchange will never ask for passwords, login credentials, OTP, or any information that can be used to authenticate identity with not to any third party as it might lead to fraud.
The WPS agreement with Al Jaber Exchange is an annual automatic renewal, and if required to cancel, the need to inform prior one month by visiting Al Jaber Exchange branches.
In case of the card is lost or stolen or in case of Unauthorized Transactions, you need to contact the branches or inform customercare@ajex.ae immediately.
Special product services such as VAT payments, credit card payments, and local fund transfers are processed through the FTS system. All fund transfers are executed based on the data provided by the customer.
In the event of any errors or inaccuracies in the provided data, AJEX will not be held responsible for any resulting issues or delays.
If you require any assistance or need further clarification regarding this process, please contact our customer service team before submitting your information or you can write to us at customercare@ajex.ae.
You have the right to cancel a money transfer within seven (7) days from the Transaction date by visiting the nearest Al Jaber Exchange branch. However, this cancellation right is not valid if the amount is already paid out to the Receiver or beneficiary account. If not paid out, the Refund of the amount to the customer will be settled at the prevailing market buying rate or transaction rate, whichever is lower, excluding the sending charges further receiving the confirmation of return of fund to Al Jaber Exchange. If any deductions from the beneficiary bank, cancellation fees, and any other expense incurred will also be a result of deduction to the customer.
For cancellation process, the sender/beneficiary has to visit the branches with the original transaction receipt.
If any transaction is rejected and returned to Al Jaber Exchange account, we will inform the customer. If unable to reach the customer, it will be treated as an unclaimed fund, and the refund of the unclaimed funds will be followed as per the guidelines of the regulatory authorities.
Refunds will be made the same way as the mode of transfer we received from the customer.
Any amendments or re-issuance of the remittance transaction requested by the customer for any reason will be subject to our regular charges and settlement of any rate differences, if applicable.
When the payment has already been credited to the Recipient’s bank account, and Sender requires a recall of the funds, they may do so. In those circumstances, we would make reasonable efforts to recover the funds. However, Al Jaber Exchange cannot guarantee cancellation will be successful.
Dispute & Complaint Management
Any complaints, queries, feedback on our services, or fraud incidents can be raised through our official email address customercare@ajex.ae.
Any transaction-related complaint should be lodged within a maximum period of seven (7) days from the date of the transaction. We will make the utmost effort to resolve any issues for services provided by coordinating with the concerned service provider. The company has no liability as an agent for any related services. The service provider will be fully liable for completing its service under its terms and conditions.
Once the complaint is received from the customer and registered in the system, receipt of confirmation will be sent to the customer upon registration or maximum within two (2) business days via SMS or email;
Al Jaber Exchange tries to resolve the complaints within a reasonable period, which shall not exceed five (5) business days.
If a complaint cannot be resolved within thirty (30) business days, Al Jaber Exchange will update the customer with reasonable justifications for the possible delay.
Al Jaber Exchange will not be liable for any transactions get held due to the financial crime regulation.
Al Jaber Exchange will not be liable for any erroneous or omitted information provided by the customer for the transaction and if the amount is credited to the wrong destination. However, Al Jaber Exchange will always work toward the best interest of the customer and will put every effort to retrieve the amount by coordinating with the correspondent partners.
If the resolution of your registered complaint by Al Jaber Exchange is unsatisfactory, you may escalate the matter to Sanadak, the ombudsman unit of the UAE. You can submit your complaint online via the Sanadak website or mobile application, through the Sanadak call center, in person, by phone @ 800SANADAK (800 72 623 25), or by email @ info@sanadak.gov.ae or by Portal or website @ https://www.sanadak.gov.ae/en
Rates & Fees
Al Jaber Exchange displays the rates and charges of the products offered to customers on the branch rate board and the rates are to be updated whenever required.
The exchange rates specified during the Service may fluctuate from time to time in accordance with fluctuations in international exchange rate markets.
Al Jaber Exchange ensures to mention the applicable service charge and transfer rate/exchange rate before executing any transaction. The customer should ensure to confirm the charges and rate before completing the transaction by signing the transaction receipt.
In situations where the receiving entities may charge additional costs, Al Jaber Exchange will not be liable for the cost the receiving correspondent bank deducts during the transaction’s cancellation or refund process transfers.
Al Jaber Exchange is not responsible for any charges applied by the Recipient’s bank resulting from the receipt of funds into the Recipient’s bank account. You should contact the Recipient’s bank directly for details about any charges that may apply to the transaction.
Errors or omissions by Al Jaber Exchange will be closely monitored. If an exchange rate error occurs due to an erroneous entry by the staff, and the rate is not present in the market, the extra amount will be refunded to the customer.
Termination
We may terminate these Terms and Conditions or suspend Our Services to you immediately:
Where you do not provide us with all the details required to perform a transaction for you.
Where it becomes unlawful for us to continue to provide you with our Services or we are required to do so by law, by any court of competent jurisdiction, or by any governmental or regulatory body, which authorizes us to perform our Services
Following a material breach by you of any of Terms and Conditions or if we discover or have reasonable cause to suspect any crime, fraud, fraudulent activity, or money laundering by you;
Customer Data Protection
Al Jaber Exchange is authorized to collect customer information for specified, explicit, and legitimate purposes and by lawful to offer various services.
Customer Data will not be disclosed, made available, or used for purposes other than those established for a legitimate purpose.
As required by applicable law, Al Jaber Exchange will take consent from the customer and inform them how the data may be used and by whom and ensure to give the flexibility to the customer to opt in or opt-out of all marketing and advertising communication.
Customer Data like transaction vouchers and other relevant documents will be retained for a minimum of 5 years. They shall not be kept longer than necessary for the collected and processed purpose unless there is a legal obligation
If customers find their data has been misused or compromised, they would require to inform us immediately at customercare@ajex.ae.
Al Jaber Exchange will not disclose the customer’s confidential information to any third party unless any applicable law or regulation within and outside the region requires it.
Al Jaber Exchange shall assume the responsibility of protecting customers’ data and maintain the confidentiality of the data held with it or with a third party and may disclose the data only to the relevant law enforcing authorities inside and outside the country.
Cooling Off Period
Al Jaber Exchange will provide a “Cooling-Off Period” for certain products and services available to our Corporate Customers, as specified in this document.
- Upon entering into an agreement with Al Jaber Exchange, our customers are entitled to a cooling-off period of 5 days from the date of the agreement.
- During the cooling-off period, customers have the right to cancel the agreement without incurring any penalties or fees.
- To exercise the right to cancel, customers must notify Al Jaber Exchange in writing within the cooling-off period. Notification can be sent via email to customercare@ajex.ae.
- Upon receipt of the cancellation notice within the cooling-off period, Al Jaber Exchange will refund any payments made by the customer within a reasonable timeframe.
Market & Business Conducts
Al Jaber Exchange will be customer-focused, fair, and conduct itself with integrity and in an honest, competent, and transparent manner at all times to customers.
All Advertising information on the products and services in branches through marketing collaterals, print media, and social media will be accurate, precise, and provided with complete information.
Al Jaber Exchange will not promote unfair, incomplete, deceptive, or misleading advertising.
Al Jaber Exchange ensures the following regulatory obligations when engaged in the advertising and sales of products & services.
Al Jaber Exchange will not apply Undue Pressure or duress on customers to purchase any Financial Product or Service.
Conflict of Interest
Information provided by the Customer must be clearly communicated, and the respective documents provided should be authentic.
Customers must carefully read all documents provided by AJEX for obtaining any service or product, including identifying any fees, commissions, or other obligations. Customers should also keep a copy of these documents.
Suppose the customer does not understand any of the conditions or the procedures relevant to the product or service the customer desires to obtain, they shall have to submit their queries to the concerned branch staff so that the customer can make decisions based on a clear and complete vision.
Customer must update their ID details, transaction information, or other documents with the branch when requested by the branch or in the event of a change of this information.
Al Jaber Exchange will communicate with the customers through its official channels only. The customer should never share passwords, login credentials, OTP, or any information that can be used to authenticate identity with not to any third party as it might lead to fraud.
We will not be responsible to you for loss of profits, loss of operations, loss of data, loss of contracts, loss of anticipated savings or benefits, loss of market shares, loss of goodwill, or increased costs or expenses arising from your use of Al Jaber Exchange services provided through our branches and mobile app.
The customer agrees not to use Al Jaber Exchange services for prohibited/illegal purposes and will be held responsible for the same.
In case of any conflict of interest arising due to technical glitches or reasons beyond control, Al Jaber Exchange will make reasonable efforts to resolve the concern or update the customer with relevant actions to avoid such scenarios.
Al Jaber Exchange takes reasonable steps to ensure that any of its Staff do not offer, give, solicit or accept any gifts or rewards (monetary or otherwise) that are likely to be perceived or are a potential conflict with any duties of the recipient concerning their activities involving with customers.
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For Service-Related Inquiries:
If you have any questions or require assistance with our services, please feel free to reach out to us at info@ajex.ae. We are here to help and will respond promptly to your inquiry.
For Complaints or Issues:
Your feedback is important to us. If you experience any issues or have concerns, please contact us at customercare@ajex.ae, and we will work to resolve the matter as quickly as possible.