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Key Facts Statements

FOREX

Baniyas Exchange offers its customers the convenience of purchasing and selling foreign currency in cash at the branch during its operational hours.

Key Facts

  • We acknowledge all prevailing legitimate currencies currently in circulation.
  • Foreign currency will be converted based on the prevailing exchange rates, which are prominently showcased in our banking halls.
  • Any counterfeit money presented at our counters will be promptly seized and handled in accordance with the regulations set by CBUAE.
  • Customers must always present an authentic Emirates ID or passport and a copy of their visa when purchasing or selling foreign currency in cash. Moreover, the customer is expected to fulfill the following requirements before commencing any foreign currency transaction:

Charges

Baniyas Exchange applies fixed charges for every foreign currency exchange transaction regardless to the currency. Charges of AED 3.25 for transactions below AED 20,000, and charges of AED 5.25 for transactions equal or exceed AED 20,000.

Key Terms & Conditions

  • Once the transaction is finalized, Baniyas Exchange is unable to refund the customer's foreign currency. The repurchase or resale of the currency will be conducted at the prevailing buy rate.
  • Baniyas Exchange will not address any grievances concerning the precision of the currency once the customer departs from the premises of the exchange house's branch.
  • Baniyas Exchange reserves the authority to decline the execution of any customer requests in case of non-compliance with the required procedures or submission of inaccurate or unlawful information or data, as per the UAE Laws.
  • Payment will exclusively be made in the currency of U.A.E Dirham to the recipients.
  • At the time of carrying out the transaction, it is necessary to provide valid identification of the beneficiary (Government Approved ID) in compliance with UAE Laws.

Warning: Foreign currency exchange rates can have an impact on the foreign currency exchange market.

Warning: The currency, once sold, will only be refunded at the current buy rate.

Warning: Any counterfeit money presented at our counters will be promptly seized and handled in Accordance with the regulations set by CBUAE.

Warning: The estimated duration for completing a transaction may vary from the actual time due to enhanced scrutiny of transactions by the correspondent bank/financial institution or entity offering financial services to the recipient of remittances.

Warning: Fraud Alert for Money Remittance.

  • To a Stranger, send only money to people you know personally.
  • To someone claiming relative in a crisis or an emergency you have not confirmed.
  • To Claim lotter winnings.
  • To resolve an immigration matter.
  • To Loan or Credit card fees, customs, or shipping fees.
  • For an item or service with money transfer to an unknown

How to Complain to us

Telephone No: 02 585 5851

Email Address: complaint@baniyasexchange.com

We will send you confirmation of your complaint within two business days through SMS or email. Our team will make every effort to address your complaint within an approximate average of seven business days.

REMITTANCE

Baniyas Exchange allows you to send and receive funds from U.A.E as well as other countries as per CBUAE Guidelines.

Key Facts

At our branches, our esteemed customers have the option to select between money transfer or receiving money through the services provided by our Remittance partners. (Transfast, U-Remit).