KHALIL AL FARDAN EXCHANGE

KEY FACTS STATEMENT- Money Transfer/Remittance

EEEXCHANGE

1. MONEY TRANSFERS/ REMITTANCES

• KAF Exchange helps you to send money worldwide, we offer both Home & Corporate remittances
• We offer Quick Remittance, RTGS, NEFT,and bank to bank transfers for remittances to India,
Description
• We offer remittance service to Philippines, Pakistan etc.. through our direct banking relationships.
• We offer SWIFT transfers in major curreny like USD for trade related transactions.

• Original valid ID such as UAE National ID or Passport with a valid UAE visa must be provided
while performing any remittance transaction.
• Upon signing the transaction voucher, the customer confirms and acknowledges the correctness,
authenticity, and legality of all the transaction details and will be held responsible for the same.
• Fake or Counterfeit currencies will be reported to local authorities
• KAF Exchange will collect supporting document towards the source of fund of the customer if the
transaction amount is AED 55,000 or more in 45 Days.
• Customer must submit required documents to prove the purpose of transaction if its other than
home remittance.
• Corporate customers must provide other supporting documents including invoice ,transportation
Key Facts & documents etc towards the commercial transactions for the verification. .
Disclosures
• Transfer will be considered as successfully processed and completed unless any claim contrary to
this received from the remitter within one month from the date of remittance.
• If bank has rejected and returned the transaction, we will inform the customer and return the
money after receiving from the correspondent bank. In case we are unable to contact and return to
the customer after 7 days of return confirmation from the bank or customer is unable to collect
money from us, that amount will be treated as unclaimed fund and will be kept separately.
• Remittance transaction can be cancelled by the customer if the transaction is not processed from
our end. In case the remittance is processed and credited in the beneficiary account and
cancellation of such transaction subject to the availability of fund in the beneficiary account and
cancellation/return confirmation from the beneficiary bank.
• Without guaranteeing the absence of any delay, subject to the Customer providing the correct
remittance information, the estimated time required to process a transaction should normally range
from “Instant or real time” to “3 to 4 working days”, (dependent on the beneficiary country and
services available and the intermediaries swift action).The real time to complete a transaction may
differ from estimates due to increased inspection of transactions or compliance verification by the
correspondent bank/financial institution or agents providing financial services to the beneficiary

Khalil Al Fardan Exchange

P.O. Box: 6065, Dubai, UAE. Telephone: 04-2550070
For feedback/complaints, please email us at [email protected] Website: www.kafe.ae
 • . The Customer shall indemnify KAF and its affiliates on demand against all losses that KAF and/or
its affiliates may incur or otherwise suffer in connection with the Service, except to the extent, with
respect to KAF or any affiliate, the losses resulted from fraud or wilful misconduct on its part.
Notwithstanding the above provision, KAF's total liability in each instance shall not exceed the
amount equal to the sum of the transfer funds received from the Customer upon KAF's acceptance of
the Service Request.
• The Customer hereby grants KAF the right to disclose any information provided by the Customer,
including but not limited to, Customer Data, Personal Data, information provided by the Customer
related to any other person and/or entity including beneficiary details and all other details and
information relating to the transfer and any other transaction to correspondent banks and remittance
partner in order to complete the transaction and to comply with all applicable laws and necessary due
Key Facts & diligence requirements. Moreover,KAF Exchange will provide the required customer and transaction
Disclosures
information to regulators and other government agencies as and when required without obtaining any
consent from the customer.

• KAF Exchange will not be held responsible if any transfer remittance that was not executed by
KAF’s correspondents due to reasons beyond KAF’s control such as beneficiary’s A/C being closed
or for legal or compliance reasons, disruption of communication system or due to any other situations
at the destination. Provided that KAF is able to get the funds returned from its correspondents, it will
either resend these funds as per the revised details given by the remitter or the remitter will be
refunded in UAE Dirhams.

Khalil Al Fardan Exchange

P.O. Box: 6065, Dubai, UAE. Telephone: 04-2550070
For feedback/complaints, please email us at [email protected] Website: www.kafe.ae
. 2. INSTANT TRANSFER

• Instant Transferes can be done through variuos methods like Bank Deposit, Cash Pick up,
Mobile Wallet. Usually this service is using for comapritively low volume transactions and
its available for multiple countries world wide. We are using MTS service provider
(INSTANT CASH) for this service.
• Account Transfer : KAF Exchange allows customers to make payments into their bneficiary
account instantly. It allows you to send money almost instantaneously to any of our numerous
locations worldwide.
• One of the most preferred and simple ways to send money internationally via Cash Payout.
Description
The sender can visit the nearest money exchange and provide cash with the details of the
beneficiary. The sender will receive an ICTC code which needs to be provided to the
beneficiary. This gives an option to receive the money without the compulsion of having a
bank account.
• Currently available in selected countries, you can transfer funds to a recipient’s mobile wallet.
The beneficiary will receive an SMS confirmation once the funds have been transferred and
money can be withdrawn from an ATM.

• A customer can instantly transfer funds to anybody anywhere anytime.

• In case the remittance sent through Instant cash and beneficiary fails to collect the fund with
in 90 calendar days , the amount will be collected back from the instant cash and will be kept
separately as Unclaimed fund to refund to customer.
• Cancelled transaction can be refunded to the customer only once you get the cancelled
Key Facts &
Disclosure voucher number from the instant cash team
• Amendments not allowed for paidout transactions
• In case a transaction fails at the beneficiary bank's end, reversal confirmation can take 3-5
business days. In case a transaction has been processed & delivered successfully, cancellation
is not possible.

Khalil Al Fardan Exchange

P.O. Box: 6065, Dubai, UAE. Telephone: 04-2550070
For feedback/complaints, please email us at [email protected] Website: www.kafe.ae
 • KAF Exchange will not be held responsible if any Instant money transfer that was not
executed by KAF’s correspondents due to reasons beyond KAF’s control such as
beneficiary’s A/C being closed or for legal or compliance reasons, disruption of
communication system or due to any other situations at the destination, provided that KAF is
able to get the funds returned from its correspondents, it will either resend these funds as per
the revised details given by the remitter or the remitter will be refunded in UAE Dirhams.
Key Facts & • In case of incorrect account details provided by the customer and if the amount gets credited
Disclosure to wrong beneficiary account, reversal of the same may not be possible if the amount is
already withdrwan by the wrong beneficiary.
• Ensure to verify the mobile number in case of mobile money before processing the
transaction, once it's credited it is not possible to recall the funds.
• There will be limit for different type of transations to different countries depend on the
regulations of the receiving country.

3. SCHEDULE OF CHARGES

Commercial Remittance (USD) • 40 AED

Home Remittance to India • 10 AED

Home Remittance to Philippine • 5 AED

Home Remittance to Pakistan • 10 AED

TT Cancellation Charges • 40 AED

USD TT Amendment Charges • 183 AED

USD TT Recall Charges • 183 AED

USD TT Tracer Request • 183 AED

*Charges applicable for instant cash transactions varies depends on the beneficiary country and
amount of transactions*
Khalil Al Fardan Exchange
P.O. Box: 6065, Dubai, UAE. Telephone: 04-2550070
For feedback/complaints, please email us at [email protected] Website: www.kafe.ae