Key Fact Statement - Dar Exchange

Dar Exchange is one of the leading exchange houses in the UAE, providing foreign currency exchange for major currencies worldwide and remittance services to all major countries globally.

In the following Key Fact Statement, we provide a summary of service information, fees, and charges. Rates

for currency exchange and remittances will be according to the prevailing market rates of the day.

FOREIGN CURRENCY EXCHANGE
Currencies accepted:	All major currencies including USD, EUR, GBP, AUD, CAD, EGP, MAD, SAR, KWD, QAR, BHD, OMR, TND, INR, PKR, BDT, PHP, LKR, IDR, NPR, SGD, MYR, TRY, JPY, CNY.
Mode of Payment to Dar Exchange:	Cash payment at all branches.
Charges 5% VAT applicable on the charges	AED 2.75 + Vat 0.25 total AED 3 for every transaction worth between AED 1 to any amount.
Beneficiary of the Charge:	Customers need to pay the applicable fees/charges.

PROCESS & PROCEDURES – CUSTOMER ACKNOWLEDGEMENT

CUSTOMER RIGHTS:

Dar Exchange provides services to customers during business working days, subject to currency availability.

CUSTOMER ACKNOWLEDGEMENT:

I acknowledge receipt and understanding of this Key Fact Statement. I confirm my understanding of the product’s service features, pricing, benefits, risks, warnings, fees, and consumers’ rights and obligations. I also acknowledge and agree that the provision of any of our services shall be at the discretion of Dar Exchange and subject to all applicable terms and conditions, which may be revised from time to time.

WARNING

Customers must ensure the availability of funds at the time of executing Foreign Exchange services. Once a Forex Exchange transaction is executed, it becomes binding, and the customer does not have the right to cancel the transaction. However, once exchange rates are agreed upon between the customer and Dar Exchange, they shall not be changed.

TERMS & CONDITIONS:

Services will be provided by Dar Exchange on business days and subject to currency availability.

The customer must ensure the availability of equivalent funds/amount at the time of the transaction. The rates agreed upon will be binding only upon execution of the transaction. Once executed, the transaction cannot be cancelled. Any subsequent purchase or sale of currencies by the customer will be considered a new transaction at prevailing rates.

The customer acknowledges and agrees that Dar Exchange will not entertain any complaints regarding currency accuracy once the customer leaves the branch or business premises.

Dar Exchange reserves the right to refuse services to the customer if the customer fails to comply with necessary procedures, or if provided information or data is incorrect or contrary to applicable laws in the UAE.

REMITTANCE – LOCAL & FOREIGN CURRENCIES
Services:	1. Bank Transfer. 2. Cash Pickup. 3. Credit to mobile wallets. 4. Inward remittances.
Products:	1. Correspondent banks. 2. IMTs providers.
Currency:	AED.
Service Charges:	Min: AED 15.00 – Max: It can vary depending on the transaction amount, country and service provider.
Beneficiary Charges	Depend up on beneficiary bank & Country.
Delivery:	Instant or up to 48 working hours Depends upon on the destination country.
Country:	All (except sanctioned countries).
Payout Currencies:	All (except sanctioned countries’ currencies).

TERMS & CONDITIONS:

Dar Exchange reserves the right to refuse services if the customer does not comply with procedures, provides incorrect information, or violates UAE laws.
Customers must provide accurate beneficiary information as mismatched details may result in rejection by partner agents.
Customers should provide the beneficiary with the reference number provided by Dar Exchange.
Transaction amounts may be affected by changes in foreign currency exchange rates.
Customer details must be valid at the time of transfer.
Actual remittance times may vary due to transaction scrutiny by financial service providers. Dar Exchange is not liable for delays occurring after funds leave the UAE.
Penalties and fees may apply for errors or incomplete information in remittances.
Dar Exchange may inquire if transfer amounts or frequency do not match the customer’s profile.
Any deductions made by the agent at the beneficiary’s location must be covered by the customer, the beneficiary, or both. This communication should be initiated by the customer.