Terms and Conditions – Foreign Currency Exchange Services
These Terms and Conditions are for all foreign currency exchange services (the Services) you, our customer, obtain from us, WeXchange Pty Ltd (WeXchange) ACN 155 326 846 either by visiting or contacting a physical branch of WeXchange or any of its distribution agents or by using the WeXchange website. These Services may include:
your use of the WeXchange website to initiate a currency exchange transaction; the exchange of one currency for another; and
the delivery of currency to an address in Australia nominated by you.
You must not use our Services or the WeXchange website if you do not agree to these Terms and Conditions.
When you seek to buy foreign currency from us, the price for the amount of currency we sell to you will be determined at the time we confirm your order based upon an exchange rate published by us.
We calculate the exchange rates which we apply to convert currency based on commercially available rates plus a margin. Most exchange rates fluctuate throughout the day and are adjusted several times each day in line with the relevant closing rate of global financial markets.
The exchange rates we apply may be less favourable than some publicly reported commercial exchange rates used in transactions between banks and other financial institutions. Any difference between an exchange rate we apply in converting currency for you and the currency exchange rate we receive from any wholesale provider of currency exchange services will be retained by us. You can check our current exchange rates by calling us or visiting our website.
The processing time for your order will be up to three business days if you place your order before 3pm AEST. An additional business day will be required if you place your order after 3pm AEST.
As a condition precedent to our obligation to you to exchange any currency you give to us with an Australian dollar value which would exceed AUD1,000, you must have registered as a WeXchange customer and we must have verified your identify to our satisfaction. We will not exchange or commence to exchange any currency you have paid to us unless and until this condition precedent has been met.
Dependant on the transaction value, customer type or transaction type, WeXchange has an obligation under Australian Government legislation and as a provider of a Designated Service (ie: Currency Exchange) to collect, verify and record certain information about each customer, including information that identifies you to our satisfaction.
In addition to the AUD1,000 threshold noted above, WeXchange may request identity information for any person placing an online currency order through any WeXchange website, including any WeXchange partner website, in order to conduct an electronic identity verification.
Where a physical transaction or exchange takes place at a WeXchange branch, at any WeXchange agent or partner location or where WeXchange carries out a delivery of foreign currency direct to an individual, WeXchange may require you to present a physical identity document to complete the transaction or exchange. A physical identity document will be any Driver Licence issued by a state or federal body in Australia or a passport issued by any country. This identity document must be presented in its original form (no scans, photos or copies) and must be ‘current’ (not expired).
You must pay the amount confirmed as our price for selling currency to you before we will process your order. Payment can be made by BPAY, bank transfer, Visa, MasterCard or via POLi and, where you visit a physical branch of WeXchange or any of its distribution agents, by cash or EFTPOS.
There are no transaction or handling fees payable by you to us when using WeXchange’s Services except that you must pay our delivery fee if we have agreed to provide personal delivery of currency to your nominated address. The amount of any delivery fee will be notified to you when you request delivery and before your order is confirmed by us. Should our delivery provider, after all reasonable attempts, fail to locate the address, locate the ordering customer, or should the ordering customer fail to adequately identify themselves, the order will be returned to WeXchange. Re-delivery will incur an additional fee and payment instructions will be provided to you by us.
Alternatively, free collection at an agreed WeXchange branch can be organised.
For online currency orders being paid using Visa or MasterCard, a 1% surcharge will apply to the transaction amount.
In-store currency transactions paid by EFTPOS using any debit or credit card will attract a 1% surcharge if you select the ‘CR’ (credit) button on our EFTPOS terminal.
Your card issuer may charge you cash advance fees under their agreement with you.
EFTPOS payments in-store utilising the SAV or CHQ buttons do not attract any surcharge.
Any foreign currency transaction (online and in-store) will only be completed if the customer is able to identify them self as the paying customer and able to present the debit or credit card used to pay for the foreign currency (names on identification and the debit or credit card must match).
No third-party debit or credit card payments will be accepted.
Your agreement with a card issuer or banking institution governs use of your card or a payment you make with POLi, respectively, and you must refer to that agreement to ascertain your rights and liabilities as a cardholder or POLi user, which may include obligations for “cash advances” and the payment of transaction fees.)
If we do not receive authorisation from your card issuer or cleared funds for a payment
initiated with POLi, we will not be able to process your order.
COLLECTION OF CURRENCY WE HAVE EXCHANGED
Except where you order currency in person and we are able to exchange your currency at the time you make your order, we will send you an email notification when your currency is available for collection at one of our branches or at the physical location of one of our distribution agents authorised by us to accept delivery of currency.
Collection of currency is only possible from the WeXchange branch or physical location of a WeXchange distribution agent which you nominate when you place your order with us. Any request to change your preferred collection location will be at our discretion and the collection time and place may be delayed. No third-party collection or pre-paid online orders is allowed.
We may not be able to provide you with your preferred currency denominations.
We will need to verify your identity before we allow you to accept delivery of currency. Currency will not be released if your identity cannot be verified to our satisfaction.
The collection of currency from WeXchange or any WeXchange distribution agent is conditional upon verifying the transaction amount and signing a confirmation that the correct amount has been received.
CHARGES FOR UNCOLLECTED CURRENCY
If we have agreed to deliver currency to an address nominated by you and the delivery is not successfully made within 3 days of the date we agreed to make such delivery, you agree to collect the currency from the branch or physical location we notify to you within 5 days. You may also arrange with us an alternative day and time for us to deliver the currency subject to a further delivery charge.
LIMITATION OF LIABILITY
WeXchange has no obligation to you to complete an order to exchange currency until:
- where you purchase the currency by Visa or MasterCard, authorisation is received from the card issuer; or
- where you purchase the currency using POLi, cleared funds are received into our bank account.
- where you purchase the currency and where you elect to pay us by EFT or BPAY, cleared funds are received into our bank account.
WeXchange reserves the right to refuse to provide Services to you at any time and for any reason it considers necessary to protect WeXchange’s legitimate business interests.
ELECTRONIC NOTIFICATION OF DISCLOSURES
Where you give us an email address or mobile phone number to contact you, you agree to accept all notifications and other communications from us via that email address or by
SMS to that mobile phone number. You agree that when we provide you with communications by email of SMS, such communication will be taken to include information accessible via any hyperlink or other internet link embedded in the SMS or email communication.
You must notify us when you change your mobile phone number or email address notified to us.
The intellectual property rights in the WeXchange website and all materials (including all text, data, graphics, logos, software and any other multimedia) made available via the website (Content) are either owned by WeXchange, or licensed to us, and all rights in
the Content is reserved.
We grant you a limited right to access the Website and view the Content, subject to these terms and conditions. You must not copy, modify, adapt, publish, transmit, commercially exploit, reproduce or distribute any Content unless you have first obtained our written consent to do so. WeXchange reserves the right to review, edit, move or delete any Content at any time without notice.
If you upload any content or material to the website or provide us with any ideas, concepts or suggested improvements to the Content or our services (User Content), you grant us a non-exclusive and royalty-free licence to use, modify, adapt, publish and exploit the User Content for any purpose without reference to you. You warrant that you have all rights and permissions necessary to provide, upload and grant the licence to the User Content to us and you agree to indemnify WeXchange if any third party takes action against us in relation to the User Content you provide. If you post any User Content to our website, we have the right to take it down or modify it at our sole discretion and without notice.
USE OF THE WEXCHANGE WEBSITE
When using and accessing the WeXchange website you must comply with all laws. You also must not:
- use data mining or similar data gathering tools on the website or in relation to any Content;
- use the website to send unsolicited email, junk mail, “spam”, or chain letters, or promotions or advertisements for products or services;
- upload, post or transmit any defamatory, abusive, racist, obscene, threatening or pornographic content to the Website or any materials which infringe the rights (including intellectual property rights) of WeXchange or any third party;
- upload or permit any virus or malicious code to adversely affect the website or any associated equipment, or interfere with or disrupt the operation of the website;
- reverse engineer, decompile or disassemble, or otherwise attempt to derive the source code of, the website or Content any part thereof;
- use the website to mislead or deceive others; or
- collect or store data about other users of the website or interfere with any other user of the website.
If you think any Content on the website is inappropriate, inaccurate, out of date, unlawful or infringes your rights, please contact us.
Linking and framing
The WeXchange website may contain links to other websites and may display content or information (including advertisements) from other websites. WeXchange is not responsible or liable for that content and does not warrant the accuracy, completeness, currency or suitability of that content for any purpose. WeXchange is not responsible or
- the availability or accuracy of such websites or resources; or
- the content, products, or services on or available from such websites or resources.
Links to such websites or resources do not imply any endorsement by WeXchange of such websites or resources or the content, products, or services available from such websites or resources. You acknowledge sole responsibility for and assume all risk arising from the use of any such websites or resources.
DATA COLLECTION AND PRIVACY
We will collect your personal information in order to:
- process your foreign currency exchange order;
- to otherwise provide our support and Services to you;
- to comply with legal and regulatory obligations;
- to prevent fraud; and
- to tell you about any other products or services we can offer.
We may also exchange some information with our third-party service providers in order to provide and improve our services to you.
CHANGES TO THESE TERMS AND CONDITIONS
We can change these terms and conditions at any time. No change we make will affect Services which we have already provided to you except to the extent necessary to maintain or restore the security of our website and currency exchange service.
Notice of any change to these terms and conditions will be contained on our website.
SEVERABILITY AND GOVERNING JURISDICTION
If any of these terms are illegal, invalid or otherwise unenforceable, the remaining terms or parts of those terms continue to have full force and effect.
These terms are subject to and governed by the laws of Victoria, Australia and by using the Services, you agree to submit to the exclusive jurisdiction of the courts of Victoria.
Addendum – Additional Terms and Conditions for the delivery of currency
DELIVERY OF CURRENCY
In our absolute discretion, we may agree to deliver currency purchased by you, from us, to your nominated address.
When your currency is available for delivery, we will send you a notification. Our delivery service provider will contact you to confirm a delivery time and day.
Delivery of currency can only be made to the location you nominate when you place your order with us. Delivery of currency must be to your residential or work address during business hours between Monday and Friday. If a residential address is entered at time of order, hand-over will be completed in a public space (ie: apartment lobby or front gate).
The person named in the order must be present at time of delivery and able to present their physical Driver Licence (Australian licences only) or Passport to our delivery agent. No images, scans or other likenesses of your identification can be accepted. Our delivery agent will be required to record certain details of your identification in order for WeXchange to meet our AML/CTF obligations (eg: identity type, issuer, number and expiry date).
Our delivery agent will not release the currency to any person other than you.
Should you pay by debit or credit card during the online ordering process you will be required to present the same payment card at time of delivery. The payment card must
be issued in your name and match the name on the online order and on your identification. This is in addition to the presentation of our identification requirements noted above.
If our delivery agency cannot verify your identity, we are not under any obligation to release the currency to you.
At the time of receipt, you must sign a confirmation that the order has been received by you. All foreign currency orders packed for delivery are packed under dual control and under HD CCTV. Should you discover a discrepancy in your order you must notify WeXchange no later than 3:00 pm (AEST) on the business day following receipt of your order.
PASSING OF RISK AND TITLE
Where we agree to deliver currency to you, ownership of that currency passes to you upon delivery evidenced by your confirmation of receipt.
WeXchange Pty. Ltd.
Level M, 183 Exhibition Street
Melbourne VIC. 3000
ABN 52 155 326 846