Terms & Conditions for Remittances

Foreign Currency Purchase & Sale

For all foreign currency transactions customers are requested to count the money and obtain a receipt of their transaction before leaving the counter. GCC Exchange or its employees will not be responsible for any shortage or claim by the customer thereafter. GCC Exchange will have the right to recover any amount mistakenly or by oversights paid excess to the customer.
No cancellation of foreign currency transactions are permitted – Any currency purchased or sold by the customer can be returned or bought back only as a fresh transaction at the prevailing market rate.

Terms & Conditions For All Transfers & Services

Any amendments or re-issuance of the remittance transaction requested by the customer for any reason will be subject to our regular charges and / or amendment charges and settlement of any rate differences, if applicable.
Unless a claim is received within 3 months for cash payouts and 6 months for bank transfers from the date of remittance, transfers / remittances shall be considered executed and delivered.Unless a claim is received within 3 months for cash payouts and 6 months for bank transfers from the date of remittance, transfers / remittances shall be considered executed and delivered.
Once a customer signs the receipt of the transaction, the customer acknowledges the correctness, authenticity, and the legality of the transaction and the customer shall be responsible for the same.
GCC Exchange and its agents are indemnified and held harmless from any claims including but not limited to delays, delivery failures, and mistakes, losses resulting from any wrong information in the transaction receipt as well as force majeure events or any other circumstances beyond the control of GCC Exchange. Our liability is limited to performing necessary amendments at the shortest time if possible. GCC Exchange has the right to recover any amount paid due to errors or oversight.
Any refund due against cancellation of any kind of transaction such as Draft, Transfers or any kind of Remittance Transactions if returned unpaid for any reason shall be refunded only to the original remitter at the prevailing market rate (buying) or transaction rate whichever is lower after excluding the sending charges any deductions from the banks, cancellation fee and any other expense incurred by GCC Exchange. GCC Exchange can execute a refund only after a confirmation of nonpayment and cancellation of the original instruction is provided by the correspondent bank or agent. The remitter will have to submit the original transaction receipt to the branches to initiate the cancellation or refund procedure. In case of the corporate senders the refund shall strictly be executed on the name of the corporate entity by way of an account payee cross cheque. Also in case of corporate entities the GCC Exchange reserves its right to ascertain and deal with the authorized signatories only.
GCC Exchange shall have full prerogative to decide its own intermediary banks, correspondent banks and agents in any country of its own choice to execute the transaction.
Any type of transaction executed by the GCC Exchange such as draft, remittance, currency exchange or money transfers are subject to the local, federal and international laws. As per the international practices the transaction found suspicious may be blocked by any bank or agent involved in the transaction chain. It shall always be the onus of the remitter and the beneficiary to provide the necessary information with supporting to clarify the suspicion of the transaction. GCC Exchange shall bear no responsibility if the transaction is blocked by any bank or agent involved in the transaction chain based on any kind of suspicion about the transaction and the remitter or beneficiary does not provide the required information to clarify the suspicion on timely basis.
The customer shall be responsible to provide original valid UAE National ID or passport with a valid UAE visa or any other kind of documents as application to the type of transaction that customer is executing with GCC Exchange.
Any transaction related complaint should be lodged within a maximum period of fourteen (14) days from the date of transaction. GCC Exchange will take all possible efforts to resolve any issues for services provided by a third party by coordinating with the concerned service provider. The company has no liability as an agent towards any related services. The third party will be fully liable for the completion of its service in accordance with its terms and conditions.
Any complaint regarding the transaction must be lodged with GCC Exchange within 14 days of such transaction. GCC Exchange will take all necessary steps to resolve such complaints. If the complaint pertains to service issues of any other ‘agent’ or ‘principal’ of GCC Exchange, then in such cases GCC Exchange shall not be fully liable to resolve such complaint within any specific time. Such Agents or principals are responsible for their prescribed terms and conditions. The customers are advised to refer to the terms and conditions of any service provider before executing the transaction.
Any transaction executed with GCC Exchange by way of a cheque.
In cases of dishonored cheques for any reason whatsoever, the customer shall be fully responsible to settle the full amount in cash immediately on intimation by the GCC Exchange to the customer about the dishonored cheque. The customer shall also be responsible to settle the exchange rate difference if any occurred on a delayed transaction due to dishonored cheque. GCC Exchange shall have full right to cancel the transaction without notice and take necessary legal actions against the customer for dishonored cheque.
For all our Instant Money Transfers products such as Western Union, Ria Money Transfer, Instant Cash and GCC Remit, please refer to their existing terms and conditions available on leaflets within our network of branches or at the respective websites (www.instantcashworldwide.com | www.gccremit.com | www.westernunion.com | riamoneytransfer.com )
GCC Exchange reserves the right to amend its terms and conditions in accordance with applicable laws or internal policies, with a prior notice period of sixty (60) days. Any changes will be communicated to customers through our website and branch disclosures.
GCC Exchange will inform you about its latest updates, special promotions and offers through SMS. If you are not favorable to this, please call 600 522 049. For further inquiries and details on terms and conditions of all GCC Exchange products and services, please visit our website (www.gccexchange.com) or call: 600 522 049 or email us at info@gccexchange.com | customercare@gccexchange.com
GCC Exchange
Licensed by Central Bank of the UAE