Terms & Conditions

These terms and conditions govern the access and usage of UAE Exchange Mobile Application, for our Mobile money remittance services. By accessing, registering with the UAE Exchange Mobile Application, you agree to be bound by these Terms and Conditions

UAE Exchange Centre WLL is a company incorporated under the laws of the State of Kuwait in accordance with the regulations of Central Bank of Kuwait and having its registered office at PO Box No:26155, Safat 13122,, 2nd Floor, Space Tower Building, Murghab, Kuwait City, Kuwait.

It is important that you understand that access and use of the UAE Exchange Mobile Application is conditional on your acceptance of Terms and Conditions. UAE Exchange Centre WLL reserves the right, in its sole discretion, to modify and/or amend these Terms of Service from time to time.

Following are the compulsory requirements
UAE Exchange Mobile Application has to download from

Registration is compulsory for new and existing customers of UAE Exchange Centre Co WLL, Kuwait Once the UAE Exchange Mobile Application is downloaded in his mobile, customer has to input his mobile number and civil id number and submit. An OTP number will be generated and the customer has to input OTP number in the respective field and submit. Once accepted by the system, customer has to input MPin Number and password according to his choice. Atleast three security questions has to be answered and an image should be selected from the list. Account will be activated once the KYC documents are verified and collected at UAE Exchange Centre Co WLL, Branches

Transaction Procedure
Customer has to select the Beneficiary from the list available. Transaction amount either in Local currency or Foreign currency can be mentioned. Transaction will be processed at the rates displayed in the system. These rates are subject to change any time. Once the transaction approved, customer has no rights to ask for the difference in the exchange rates
Customer can select either Payment by Knet or Payment over counter. If the payment is by Knet, the application will be redirected to Knet payment gateway page. After successful payment, an electronic receipt with the Reference number will be displayed and sms/email will be delivered to Customer.
If the payment is over counter, an , an electronic receipt with the Reference number will be displayed and sms/email will be delivered to Customer. The customer has to visit any of our branches within 2 hours of transaction, and should be within 9 pm . Transaction details will be retrieved in the branch and customer can either pay by Knet or by cash and complete the transaction. (Branch can collect only a maximum amount of KD 3000 from a customer in cash during the day)

Transaction Limits
Minimum limit per transaction is fixed as KD 5 Maximum limit per transaction/day limit is fixed as KD 9500 If the resident customer is outside Kuwait for his vacation, he will be allowed to process maximum 3 transaction in a month or 12 transactions in a year.(subject to expiry of his Civil id)

Your Obligations
You are agreeing that your user id, your password, Mpin number, security questions and answers should not be shared with any third parties. You are agreeing that you will provide us the correct and accurate details which includes, id documents, Beneficiary account details any additional documents if required by us/correspondent banks or by regulators You are agreeing to provide us documentary evidence proving source of funds/income, purpose of transaction/Beneficiary details or any related documents in support of your transaction as and when required by us or by correspondent banks/regulators You are agreeing that you will not use this service for any illegal purpose or attempt to hack/tamper or corrupt the security of the application. You are agreeing that you will not open multiple mobile app accounts with us. You are agreeing that you will not use third party knets for processing transactions You are agreeing that you will not send funds to unknown people You are agreeing that you will not process transactions to religious/charitable institutions You are agreeing that you will be liable to us which we suffer due to any fraudulent activity done by you. You agrees that UAE Exchange Centre Co Wll, without giving prior notice, may temporarily suspend the operation of the Mobile application for maintenance and upgrading purposes without any liability from their end You agrees to comply with all of the procedures that UAE Exchange Centre Co WLL may issue from time to time (Transaction procedures/Security/Accessing Mob applications etc) You agrees that, in case of losing possession of control of your mobile, the information has to be reported to UAE Exchange Centre Co WLL at the earliest. UAE Exchange Centre Co WLL will be not held liable for any losses, customer may incur arising from it You have to contact us at the earliest, if you doubt that the transaction you processed was not executed properly You agrees to indemnify UAE Exchange Centre Co WLL against any and all liabilities ,losses, claims arising as a result of your (Customer) negligence

Cancellation of Transaction
Cancellation request can be send through the application. Once received at our back office, will verify, and if the transaction is not authorised from our Back office, the transaction can be cancelled between 24 hours to 48 hours. If the transaction is authorised from the back office, request has to be send to the correspondent bank for cancellation. Cancellation will be either accepted or rejected by the correspondent bank. This action may take 7 days or above. The transactions will be not refunded, if the amount is not refunded from the bank and credited to our account. The company shall be not responsible for any delay or losses caused by the differences in the exchange rates or charges deducted from the refund transfer amount. The customer has to pay any extra charges incurred by us or deducted from our account in the correspondent bank/banks. Refund amount to customer will pay by Cheque (local account transfer)

Limitations of Liability
We (UAE Exchange Centre Co WLL) shall not be responsible, if there are mistakes either in account name or account numbers We shall not be liable for any loss beyond the control of UAE Exchange Centre Co WLL

General
If any changes in the process, we shall notify the customer, about the changes UAE Exchange Mobile Application will be available 7 days a week, 24 hours a day, depending on the internet facilities available in your mobile If the Mpin No/Password/Security Answers are wrongly mentioned, the application will block the user and an sms/email will be forwarded. Customer has to contact our support team for reactivation of service New Beneficiary can be added from the application and it will be activated by the support team after verifying with the customer Transactions status requests are available in the system We will take all necessary steps to ensure that your data is secured with us. We will use the information provided by you for performing our obligations to you and in order to comply with any legal obligation The Terms and Conditions shall be construed in accordance with the laws of Kuwait and rules and instructions given by Central Bank of Kuwait. Any claims or dispute, arising between UAE Exchange Centre Co WLL and the Customer shall be subject to the exclusive jurisdiction of the civil courts of the State of Kuwait.

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