Product
Product Description
Remittance
Al Jaber Exchange offers financial services that enable the transfer of funds between individuals, facilitating the movement of money across various geographic locations. This service allows people to remit money to friends, family, or businesses, whether they are in the same country or abroad. It ensures a reliable and efficient means for conducting monetary transactions over long distances, catering to both domestic and international needs.
Sender and Recipient
The sender, also known as the originator, is the individual initiating the money transfer, while the recipient, or beneficiary, is the individual or entity receiving the funds. Remittances are a common method used by migrant workers to support their families in their home countries by sending money earned abroad.
Counter Parties Involved
Al Jaber Exchange collaborates with various counterparties to process customers’ remittance transactions. When a customer submits a remittance order, Al Jaber Exchange has the discretion to select the counterparty for executing the transfer. However, for Instant Money Transfer Services (IMTS), customers have the option to choose their preferred counterparty. All counterparties utilized by Al Jaber Exchange are approved by the Central Bank of the United Arab Emirates.
Fees
Remittance charges are determined based on the destination country and the amount being transferred, and these charges are subject to change. Comprehensive details on the applicable charges are available at our premises, also attached below this document, or by contacting us. For inquiries, please call 025591555 or email customercare@ajex.ae. We recommend checking these resources to obtain the most accurate and current information regarding remittance fees.
Refund and Cancellation
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.
Foreign Currency Exchange
Al Jaber Exchange provides financial service that involves the exchange of Foreign Currency which included both buy and sell of foreign currency.
Availability of Currency
Type of Currencies Available
Major Currencies: Dollar, Euro, GBP
GCC Currencies: Qatari Riyal, Omani Rial, Saudi Riyal, Kuwaiti Dinar, Bahraini Dinar.
Asian Currencies: Indian Rupee, Bangladeshi Taka, Philippine Peso, Thai Baht, Indonesian Rupiah, Sri Lankan Rupee.
In addition to major currencies, we customize our services to meet specific customer needs by accommodating requests for other currencies as required.”
Refund and Cancellation
Currency once bought or sold can be returned only with a new transaction at the prevailing market rate. Neither Exchange nor its employees will be held liable for any claims or shortages thereafter.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.
WPS
The Corporate Payroll Solution provided by Al Jaber Exchange is exclusively designed for salary disbursal in compliance with the directives of the UAE Ministry of Labour, the Electronic Wages Protection System, and the Central Bank of the UAE. Al Jaber Exchange now offers a convenient salary disbursement service through ATMs, featuring both open and closed-loop facilities.
Closed-loop ATM cards, supported solely by AJEX, allow customers to withdraw their full salary amount from any AJEX ATM. Open-loop ATM cards enable salary withdrawal at any bank’s ATMs across the UAE, with two salary withdrawals free of charge. AJEX processes the salary file received from the company or employer and ensures the salary is uploaded to the respective employee’s payroll card or account.
Refund and Cancellation
Al Jaber Exchange can process refunds or cancellations of the salary processed upon receipt of the required proof and supporting documentation. Once the refund is initiated, the customer will be notified of the refund status.
Special Product Service/Utility Payment service
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.
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.
Warnings
Any changes or re-issuance of a remittance transaction will incur standard charges and any applicable rate differences.
• Customer must provide required documents as per compliance requirements.
• Keep the original documents for future use in case of amendments or cancellations.
• 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.
• 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.
• The actual time to complete a transaction may differ from estimates due to increased scrutiny of transactions by the correspondent bank/financial institution or entity providing financial services to beneficiary of remittances.
• Do not share your confidential information, such as ATM card number, PIN, OTP, or passwords. We never ask for these details through links, emails, SMS, or any other channels. If you notice any such requests, contact us immediately.
• Any further queries/clarifications/complaints please visit any of our branches / email us on customercare@ajex.ae / call us 025591555.
• Count your cash and check your belongings before leaving the counter.
Service Charges
| Direct Bank Transfer | India | ≤ AED 1,000 – AED 18.10 > AED 1,000 – AED 22.86 |
| Pakistan | ≤ AED 368 – AED 18.10 > AED 368 – FREE |
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| Nepal | ≤ AED 1,000 – AED 18.10 > AED 1,000 – AED 22.86 |
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| Philippines | ≤ AED 1,000 – AED 18.10 > AED 1,000 – AED 22.86 |
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| Bangladesh | ≤ AED 1,000 – AED 18.10 > AED 1,000 – AED 22.86 |
| Western Union - Bank Transfer | Instant Cash | Mobile Wallet | Countries Across The World | Min - AED 18.57 ** Max - AED 200.00 ** |
| Master Card - Bank Transfer | Instant Cash | Mobile Wallet | Min - AED 15.00 ** Max - AED 90.00 ** |
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| Forex Services | UAE | ≤ AED 20,000 – AED 3.10 > AED 20,000 – AED 5.00 |
| VAT Payment | ≤ AED 50,000 – AED 20.00 > AED 50,000 – AED 40.00 |
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| Credit Card Payment | Personal Cards - AED 5.00 Corporate Cards - AED 25.00 |
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| Local Bank Transfer | ≤ AED 1,500 – AED 16.19 > AED 1,500 – AED 20.00 |
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| International Mobile Recharge / Top-up | Countries Across The World | Free Of Cost |
| WPS | UAE | Charges applied are based on the terms outlined in the service agreement between Al Jaber Exchange and the customer. Please review the service agreement for details regarding applicable charges and fees. |
** The service charges listed above may differ based on the transfer amount, the currency being sent, service agreements with the clients and the specific agents or banks involved
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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.