8. Compliance and Verification
12. Complaints and Dispute Resolution
13. Changes to Terms and Conditions
Agreement Overview
This agreement outlines the terms between you and Yellow Sands Trading Pty Ltd, trading as Raiyyan Exchange ("Raiyyan Exchange," "we," "us," or "our") regarding the use of our services and website. By accessing, registering, or using our services, you accept and agree to comply with these Terms and Conditions. If you do not agree, you should refrain from using our services.
Definitions
"You," "your" – The user of our
services, whether as a sender, beneficiary, or visitor.
"Services" – Remittance and travel currency
exchange services, available in person and online, along with related payment services available through
our website and mobile application.
"App" – Raiyyan Exchange's mobile application
is used to initiate transactions.
"Sender" – An individual who initiates a money
transfer.
"Recipient" – The individual receiving the
transferred funds.
"Transaction" – A request to send money through
our platform.
"Transaction Amount" – The sum the sender wishes
to transfer, excluding fees.
"Payout Amount" – The final amount received by
the recipient after conversion and deductions.
"Payment Instrument" – A valid payment method,
such as a bank account, debit card, or credit card.
"Service Provider" – Banks, money exchange
houses, and third-party payment processors facilitating transactions.
"Verify" – The process of confirming your
identity as required by Raiyyan Exchange.
"Website" – Our online platform is available
at www.rayex.com.au.
"You," "your" – The user of our services, whether as a sender, beneficiary, or visitor.
"Services" – Remittance and travel currency exchange services, available in person and online, along with related payment services available through our website and mobile application.
"App" – Raiyyan Exchange's mobile application is used to initiate transactions.
"Sender" – An individual who initiates a money transfer.
"Recipient" – The individual receiving the transferred funds.
"Transaction" – A request to send money through our platform.
"Transaction Amount" – The sum the sender wishes to transfer, excluding fees.
"Payout Amount" – The final amount received by the recipient after conversion and deductions.
"Payment Instrument" – A valid payment method, such as a bank account, debit card, or credit card.
"Service Provider" – Banks, money exchange houses, and third-party payment processors facilitating transactions.
"Verify" – The process of confirming your identity as required by Raiyyan Exchange.
"Website" – Our online platform is available at www.rayex.com.au.
Service Usage
Raiyyan Exchange provides remittance and travel currency exchange services, both in person and online, allowing users to send and receive funds conveniently. Users must create a profile with accurate personal information, including a valid ID, email, and contact number. Once registered, users can conduct transactions through their existing profile.
Users cannot send transactions on behalf of third parties. Raiyyan Exchange does not notify recipients when funds are deposited; however, senders and recipients may receive transaction confirmation emails.
We communicate primarily via email unless legally required to do otherwise. It is your responsibility to update your contact details promptly.
Access and Registration
To use our services, you must:
Be at least 18 years old.
Provide accurate registration details, including name, address, date of birth, and occupation.
Verify your identity as required.
Ensure that your home address matches the billing address for any linked payment method.
Raiyyan Exchange reserves the right to reject transactions at its discretion. Users must provide complete and accurate information; otherwise, transactions may be delayed or declined.
Payments and Fees
When initiating a transfer, you agree to pay:
The transaction amount.
Any applicable transaction fees.
Additional charges, if applicable.
Payment is due at the time of submission. If a transaction results in chargebacks or additional fees, you are responsible for reimbursing Raiyyan Exchange. We reserve the right to retry unsuccessful payments using any linked payment method.
Raiyyan Exchange and its partners may earn revenue from exchange rate margins, which vary. The exchange rate displayed at the time of submission is not guaranteed for future transactions. Additional fees may be imposed by your bank or card provider.
Transaction Processing
Raiyyan Exchange processes transactions through designated service providers. Not all payment methods are available in all locations. If a recipient cannot be identified, funds may be refunded to the sender.
Receivers may be required to verify their identity before receiving funds. Raiyyan Exchange reserves the right to refuse a payout if verification requirements are not met.
Cancellations and Refunds
Transactions may be canceled only if funds have not yet been
disbursed.
Refunds, if applicable, will be processed within four (4)
business days, minus applicable charges.
If a transaction is executed based on incorrect sender
instructions, Raiyyan Exchange is not liable for incorrect delivery. However, we will attempt to recover
funds where possible.
Refunds are credited back to the original payment method in the
same currency.
Transactions may be canceled only if funds have not yet been disbursed.
Refunds, if applicable, will be processed within four (4) business days, minus applicable charges.
If a transaction is executed based on incorrect sender instructions, Raiyyan Exchange is not liable for incorrect delivery. However, we will attempt to recover funds where possible.
Refunds are credited back to the original payment method in the same currency.
Compliance and Verification
As required by Australian law, Raiyyan Exchange verifies user identities to prevent money laundering and financial crimes. You may be required to provide identification documents such as a passport or driver’s license. We may also use government and private databases for verification purposes.
Data Privacy
Raiyyan Exchange handles personal information in compliance with the Privacy Act
1988. By using our services, you consent to the collection and use of your data for transaction processing,
fraud prevention, and legal compliance. We may disclose your information to authorities if required by
law.
Limitation of Liability
Raiyyan Exchange’s liability is limited to AUD 100.00, plus a refund of the transaction amount and applicable fees. We are not responsible for losses due to:
Delays are caused by third-party service providers.
System failures, natural disasters, or legal restrictions.
Incorrect details provided by users.
Intellectual Property
All content on the Raiyyan Exchange website, including text, graphics, and databases, is owned by Raiyyan Exchange. Users may not reproduce, distribute, or modify any website content without prior written permission.
Complaints and Dispute Resolution
If you have a complaint, contact us at clp@rayex.com.au. We will acknowledge receipt within five business days and aim to resolve complaints within five weeks. If you remain dissatisfied, you may escalate your complaint to the Financial Ombudsman Service Australia.
Changes to Terms and Conditions
We may update these terms periodically. Users will be notified via email or website notice at least seven days in advance. Continued use of our services after this period constitutes acceptance of the changes.
No Financial Advice
Our services do not constitute investment or financial advice. Users are responsible for making informed decisions regarding transactions and should seek professional advice if necessary.
Disclaimer
Raiyyan Exchange does not guarantee uninterrupted access to services and is not liable for errors, delays, or disruptions beyond its control. Users should verify the accuracy of all details before initiating transactions.
Governing Law
These Terms and Conditions are governed by Australian law. Any disputes arising from this agreement will be resolved in Australian courts.
Agreement Acknowledgment
By using Raiyyan Exchange services, you confirm that you have read, understood, and agreed to these Terms and Conditions. If you do not accept any part of this agreement, you should discontinue using our services.
Contact Information
Registered Office:
Yellow Sands Trading Pty Ltd trading as Raiyyan Exchange
21
Auburn Road, Auburn, NSW 2144, Australia
Email: clp@rayex.com.au
ACN: 620 775 313