Terms & Conditions


1- I/We have checked the instructions and details of the transfer request in the receipt and acknowledge the authenticity of the information provided.


2- I/We acknowledge that we understand the fact that it is not possible to cancel, refund or suspend any money transfers sent via a bank account completed and that this procedure is subject to the absolute disposal of the beneficiary’s bank and therefore the value of the transfer cannot be refunded unless a written consent from the account holder is provided and verified by the beneficiary bank.


3- I/We acknowledge that I/we are the legitimate owner/owners of the funds subject to this transfer and declare that the information provided are authentic and correct and authorised to make the transfer, and I/we fully accept the responsibility of the source of funds and purpose of the transaction with the full acknowledgment of the identity of the beneficiary/s and the funds are transferred for the purpose of personal and legitimate use.


4- I/We acknowledge and understand that if the transfer is not made under any justification whatsoever by United Gulf Exchange Company, my right to claim the amount will be limited to the purchase price of the currency on the day on which the amount is refunded and the amount will not be refunded unless United Gulf Exchange Company receives a notice of receipt of the amount indicating that the corresponding bank has not disbursed the transfer and after the necessary procedures have been fulfilled at the discretion of United Gulf Exchange Company. The refund / payment of the amount claimed is subject to the exclusive discretion of United Gulf Exchange Company, and I/we acknowledge that United Gulf Exchange Company and its employees are not held responsible for any obligations that may arise as a result of this matter.


5- I/We release United Gulf Exchange Company from any liability or claims due to damages resulting from events beyond the control of United Gulf Exchange Company or from unforeseen events including but not limited to law changes or procedures in the country where the transfer is made and agree that the liability of United Gulf Exchange Company is limited to a maximum amount to recover the transferred amount at the lowest fees and settlements of  the transfer, and that united gulf exchange company are not responsible  for any currency rate changes in the case if refund of the funds.


6- United Gulf Exchange Company is committed to follow up on the transfers carried out through its correspondents abroad and to ensure that the beneficiary receives the value of the transferred funds within a maximum of 5 business days, and to inform the transfer applicant of the reasons for not executing the transfer in the event of obstacles preventing its implementation.

7- In case the transfer is rejected under any circumstances and the amount of the transfer is more than KD 3,000.000, the amount will be refunded to the sender’s debited account via a banking channel or a cheque in the sender’s name.


8- The transfer request shall not be in effect until after the cashier’s approval through his/her signature and a stamp on the receipt with the signature of the sender of the transfer.


9- In the event that a debit card is used to pay the value of a transaction deducted from a bank account, United Gulf Exchange Company must verify that the card is issued in the name of the customer requesting the execution of the transaction, and in the event of a difference in the name, an authorization must be obtained from the person whose name is stated on the card to accept payment of the value of the transaction on his/her part and that the transaction is requested by the actual beneficiary.


10- United Gulf Exchange Company shall not be responsible for any fees collected/fees levied by any intermediary bank/financial institute as a result of interest deducted from the original transfer amount.


11- The beginning of the provision of the service shall be from eight in the evening to eight in the evening of the second working day and the deposit or delivery of funds to the recipient shall be made within 24 working hours in the recipient’s country starting from eight o’clock in the evening.


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