Terms & Conditions

These Terms and Conditions shall apply on all services / product offered by Al Ghurair Exchange. The Customer usage of any Services/product offered by Al Ghurair Exchange and conducting of any transaction with the Al Ghurair Exchange shall constitute an acceptance to these Terms and Conditions as amended from time to time.

1.Foreign Exchange Service Terms and Conditions

1.1. Al Ghurair Exchange purchase foreign cash from customer at the Cash Buy Rate, and will sell foreign cash to you “in denominations of your choosing, subject to availability” at the sell rate.

1.2. Al Ghurair Exchange shall reserve the right to decline acceptance of any foreign cash for any reason, including that the notes presented are: damaged or considered unfit for sale; no longer in circulation; or otherwise considered un-exchangeable.

1.3. Foreign cash once sold could be returned only at prevailing buy rate.

1.4. Al Ghurair Exchange shall reserve the right to retain any banknotes in a foreign and or local cash purchase which we suspect to be counterfeit, and will surrender them to the authorities as appropriate. Your details and transaction details will be recorded for use in any investigation which may be required.

1.5. Please count your money before leaving the counter. No responsibility will be taken afterwards.

1.6. Errors & Omission exempted.

2. Remittance Service Terms and Conditions

2.1. It is a customer responsibility to ensure payee details for a domestic and or International Money Transfers, including account number for the beneficiary, the payee’s full name, the payee’s physical address and any other information we may require, are correct. Customer’s failure to provide correct payee details may result in the payment being unrecoverable and costs for which customer will be liable.

2.2. All fees, commissions, and charges relating to a domestic and or International Money Transfers (whether imposed by a Correspondent or intermediary Banks will usually be deducted from the payment. The payee therefore will receive an amount less than the amount of the original payment.

2.3. Al Ghurair Exchange can provides the customer no guarantee as to when the payment will be available to the payee. Any enquires we make to a Correspondent on a customer behalf regarding a payment will be at customer cost.

2.4. Al Ghurair Exchange will make all reasonable endeavors to stop, correct, or trace a domestic and or International Money Transfers when you request to do so. Where applicable, any payments returned in a foreign currency will be converted to AED (United Arab Emirates Dirham) at the prevailing market buying rate or transaction rate whichever is lower.

2.5. Al Ghurair Exchange will charge the customer a fee to stop, correct, or trace a domestic and or the International Money Transfers. Any Correspondents involve may also charge a fee to stop, correct, or trace the International Money Transfers.

2.6. Al Ghurair Exchange is free to use the services of banks (correspondent and Intermediary bank) and other financial institutions in any country of its choice for execution of the transfer. Correspondent and intermediary charges and fees are applicable and will be deducted at paying end.

2.7. International Money Transfers processing should take 1-3 working days. Payment made within the designated cut off time of the Correspondent bank will normally be received on the same day. Subject to the Correspondent Bank cut off time.

2.8. Oral instructions are not acceptable to execute the domestic and or International Money Transfers, cancellation, refund, and amendment transactions.

2.9. The customer has to surrender the original receipt to the branch in order to initiate the cancellation / refund procedures.

2.10. The Money Transfers (Domestic & International) shall be governed and construed in accordance with the UAE laws. The service may also be directly or indirectly affected by the laws, regulations, practices and policies of any place where a Correspondent operates or where the payment is made from or received.

3. Payment of Wages using WPS

3.1. The employer must register with Al Ghurair Exchange LLP for the use of the Service and should meet the Exchange’s registration requirements communicated to the Employer from time to time.

3.2. The Employer undertakes to execute any document, now or in the future, that may be required by the Exchange under the Service. Where the employer fails to comply with Exchange’s requirements the Exchange will be entitled to withdraw the Service provided or refuse to modify any or part of it.

3.3. It has been agreed that there shall be no restriction to the number of payroll files to be uploaded by the employer, the total amount of the payroll or the number of salaries to be processed per file and the value of each single salary in the file.

3.4. Al Ghurair Exchange shall process the SIF file upon realization of the funds.

3.5. The disbursement of wages, shall be executed only via payroll cards or through a bank account of the individual receiving the wages or salaries only.

3.6. The employer shall appoint Main Contact (representative Staff and/or authorized person) to acct on its behalf to be completely responsible for carrying out employer’s duties under the WPS agreement. Al Ghurair Exchange is authorized to act upon any instruction believed to be received from the employer, the representative staff and/or authorized person without any responsibility on the Exchange’s part.

3.7. Al Ghurair Exchange shall reserve the right to reject or cancel any transaction under the Service in the event of any transaction being incomplete, inconsistent, and incorrect or in breach of any statutory or regulatory legislation.

3.8. Al Ghurair Exchange’s record of any transaction processed through the use of the Exchange WPS service shall be conclusive evidence of such transaction(s) and shall be binding on the employer, whether initiated by the employer or the representative staff or the authorized person(s).

3.9. Al Ghurair Exchange shall not be responsible for any loss or damages or immediate refund which may arise from failure to properly identify the data provided to the Exchange by the employer or from mistake or omission of the employer.

3.10. The employer declares and acknowledges that the information provided with regards to employees’ details such as, but not limited to, name as per passport, passport no, expiry date, date of birth, nationality etc. are genuine and correct. The employer shall take full and absolute responsibility for the correctness of submitted information. The employer agrees and undertakes to provide the Exchange with an updated information immediately after becoming aware that any information given has changed or becomes untrue, incorrect or incomplete.

3.11. Termination: the employer may cancel its use of Al Ghurair Exchange WPS service at any time by notifying the Exchange in writing 15 days in advance. From the time this notification is received by the Exchange, the Exchange shall have the right to execute all pending transactions previously initiated by the employer, till complete termination of the service. Termination shall be without any prejudice to the Exchange’s rights under the WPS agreement, including but not limited to the Exchange’s right to receive its fees.

3.12. Payroll Card: For payment of salaries to the employer’s employees which are not entitled to open individual accounts with bank due to low salary level, the employer has agreed for issuance of Salary Cards for such employees and a detailed list of the employees is being separately provided to the Exchange. In addition to the other terms and conditions dealing with WPS as referred above, the employer also irrevocably agree to the following terms & conditions related to management of Salary Cards including any other condition(s) added by the Exchange in future or any existing condition(s) deleted or modified hereafter irrespective of any notification about the change made by the Exchange to the employer or not.

Upon issuance of the cards, the Exchange will deliver Payroll cards directly to each employee of its clients and obtain acknowledgements thereof at all times.

Payroll cards shall not be reloaded with any value or money other than the salary/wages of the employee as per the Salary Information File (SIF) uploaded to and accepted by the System of Wages Protection.

The employer’s employees holding payroll Cards will not have any contractual relationship with the exchange therefore Al Ghurair Exchange will not be liable towards the employees in any manner whatsoever and any dispute about salary matters will be between the employer and their employee(s) and the Exchange will not be a part of such dispute.

The employer takes full responsibility of any consequences or financial loss to them and/or to any of their employees due to misuse of payroll card by an employees whether intentionally or negligently.

And in the event of any financial loss to the employer and/or to employee(s) due to loss of salary card & PIN or accidental possession of payroll card and disclosure of PIN to any third party, Al Ghurair Exchange will not be held responsible. Replacement of lost card and PIN will be subject to Al Ghurair Exchange charges as per standard prevailing tariff.

The employer agrees that Al Ghurair Exchange will not be responsible for any loss or damage of whatever nature to them and/or to their employees arising from any disruption or failure or defect in any ATM or communication system or facilities or data processing system or any industrial or other dispute or cause whether beyond the control of the Exchange or otherwise.

4. General

4.1. Al Ghurair Exchange shall not be responsible for any loss or damages or immediate refund which may arise from failure to properly identify the data provided to the Exchange by the customer or from mistake or omission of the customer or any of correspondents /partners and/or paying agents, or for any error or delay in transmission in relation to all payments received by Al Ghurair Exchange from the customer pertaining to the following services / products ,but not limited to, and/or all services / product offered by Al Ghurair Exchange,

  • a. Value Added Tax (VAT) Payment
  • b. Pension Payment
  • c. Credit Card Payment
  • d. Air ticket Payment
  • e. Cash Advance against Credit Card
  • f. Privilege Cards
  • g. Membership Card
  • h. Gold Card
  • i. Platinum Card
  • j. Foreign Prepaid Mobile Top-up Payment via EZ TOP
  • k. Bill Payment
  • 4.2. All charges and fees pursuant to or in connection with a Product / service and with these Terms and Conditions are non-refundable.

    4.3. The Customer acknowledges that the Customer has read these Terms and Conditions and confirms acceptance of all of the terms and conditions.

    5. Fees and charges

    By using our services you agree to pay the applicable fees and charges set out and advised by us in our branches and on our website https://alghurairexchange.com

    6. Changes to these Terms and Conditions

    Changes to T&C shall be at sole discretion of Al Ghurair Exchange without prior notice.

    Language and Interpretation

    The Terms and Conditions are made in bilingual Arabic and English texts however, if there is any contradiction between the Arabic and English text, the Arabic text shall prevail.