Terms and Conditions

  1. Please count and check your cash before leaving the counter and Baniyas Exchange shall not assume liability for any claims in the future.
  2. Once Foreign Currency has been executed, it cannot be cancelled or refunded.
  3. Customer registration is a compulsory requirement, and it is essential to provide valid identification as per the guidelines set by the Central Bank of the UAE.
  4. Transfers / Remittances are deemed completed and delivered unless a claim is received within a period of 3 months for cash payout and 6 months for bank transfer, starting from the date the remittance was initiated.
  5. The sender will be refunded for any cancelled transfers or remittance transactions that are returned unpaid, regardless of the reason. The refund will be based on the prevailing market buying rate or transaction rate, whichever is lower. However, the refund will not include the sending charges, any deductions from the beneficiary bank, cancellation fees, or any other expenses incurred.
  6. Baniyas Exchange and its Agents are protected and absolved from any liabilities, encompassing but not restricted to delays, delivery failures, errors, and losses arising from inaccurate information in the transaction receipt, as well as any other uncontrollable circumstances.
  7. AML declaration: I / We assure and affirm that the transactions conducted by me / us are authentic and lawful, and the documentation maintained by me / us will enable us to address any inquiries or clarifications from regulatory authorities in the UAE.
  8. The service fees can be found on our official website, "www.baniyasexchange.com". The fees are subject to change depending on the specific product or service as well as the transaction amount.
  9. 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.
  10. Baniyas Exchange will reimburse the funds that have not been claimed in accordance with the regulations set by the governing bodies.
  11. AML undertaking: The information provided regarding the transactions (including identity, contact details, address, etc.) is accurate and valid, and the funds involved in these transactions have not been derived from any illicit money laundering or terrorist activities.
  12. The funds' origin and the accompanying documents are legitimate, originating from our organization/individual and not affiliated with any third party.
  13. The transactions and the documents provided serve a lawful purpose and are not intended for any external party.
  14. Cooling off Period: The customer acknowledges that the execution of this transaction is time-sensitive and therefore agrees to forgo the cooling off option in order to proceed with the transaction.
  15. Key Facts Statement: I / We admit the understanding of the key facts statement. Moreover, I / We accept that I / We possess knowledge regarding the product / service, pricing, risk, fees, and consumer rights and obligations elucidated in the Key facts statement.
  16. If the customer has any complaints, they can contact us within 24 to 72 hours from the date the complaint was logged. Our company is committed to responding to these complaints within a reasonable timeframe.
  17. To address any inquiries, feedback, or complaints, customers have the option to complete a form and deposit it into the suggestion / complaints box located in the branch lobby.
  18. In case of any grievances, customers have the option to reach out to the customer support officer by dialling +971 2 585 8581 or by sending an email to complaint@baniyasexchange.com