Terms & Conditions
Last Updated: 1st of April 2021.
Please read this Agreement carefully before you start using our Services. This agreement tells you who we are, how we provide our service to you, how this Agreement may change or be changed, what to do if there is a problem and other important information. If you think that there is a mistake in this Agreement or require any changes, please contact us on support@khyberexchange.com.
General Information
  •   The terms and conditions below govern the access and use of our website (hereinafter “the Website” and Mobile Phone Application (hereinafter “the Application”, “the app”) enable you to transfer money (hereinafter “The Service, Services”) through Khyber Exchange to the country of your liking.
  •   In the present Terms and Conditions, the terms “Khyber”, “Khyber Exchange”, “we”, “us,” or “our” refers to Khyber Money Exchange Ltd and “sender”, “you”, “your” refer to any person who accesses and uses our services as a Sender.
  •   It is important that you read and understand that by using our Website, Mobile Application you accept the Terms and Conditions.
Definition
Please read below definitions of the words set in the Terms and Conditions to have a better understanding.
  •   “Application, App, Mobile App” means the Khyber Money Exchange mobile phone application, created by Khyber Exchange to provide online money transfer services and related information;
  •   “Compliance Officer(s)” means one or more staff members at Khyber Money Exchange, responsible for compliance with Money Transfer Regulations, anti-money laundering legislation and other applicable laws.
  •   “Fees” means any charges or fees we charge you for the use of our services as, applicable.
  •   “Force Majeure” means any of the circumstances as referred in clause.
  •   “FX Spread” is where you pay for a transaction in your local currency and is paid out in another currency, we apply an FX Spread. This spread is the difference between the exchange rate we buy and sell currencies which we are able to provide to you.
  •   “Malicious Code” this means computer viruses, trojans, software that interferes with personal data.
  •   “Money Transfer Regulations” means applicable laws set in the United Kingdom or from the country which you transfer funds from.
  •   “Prohibited purpose” means any unlawful purpose, including, without limitation, the transfer or receipt of payment for illegal activities, the transfer of funds which constitute proceeds of crime or money laundering under the Proceeds of Crime Act 2002 or which are obtained by illegal activity, the transfer of funds for the purpose of funding illegal activity, the transfer of funds for the purpose of avoiding the seizure of such funds by law enforcement authorities or under orders of any court of law, and any transfer of funds without the permission of their owner.
  •   “Recipient or Receiver” means the person who receives (or intends to receive) the money sent through Khyber Exchange.
  •   “Reference Number” means the unique transaction pin number, which will be issued to you and which the Recipient will be required to provide to our pay out partners in order to receive the pay out amount.
  •   “Sender” means the person who initiates the carrying out of a money transfer through our service.
  •   “Transaction” means every you initiate a payment by using our service.
  •   “Website” means the website operated by Khyber Exchange to provide online money transfer services.
How to contact Khyber Money Exchange Ltd
  •   Khyber Exchange has services that enable you to transfer money by using a computer or mobile connected to the internet by using the website or the mobile app.
  •   Khyber Money Exchange LTD is a company registered and incorporated under the laws of the United Kingdom with company registration number 06832517.
  •   Khyber Money Exchange LTD is regulated by the FCA (Financial Conduct Authority) with FCA Registration Number 584039.
  •   We can be contacted at:
    Postal Address: Unit 421, 160 London Road, Jhumat House, Barking, IG11 8BB.
    Email Address: support@khyberexchange.com
    Email Address:Website: www.khyberexchange.com
Confidentiality
  •   As a regulated payment institution with the purpose of providing remittance services we are bound to verify, and record information of our customers.
  •   All data would be treated confidential and processed strictly and confidentiality.
  •   We may disclose information if we are required by law to do so, or partners if they are required to fulfil regulatory obligations, by court order, by statutory, legal, police or any authorities working for the preventions or detection of crime or to help combat money laundering and terrorising funding.
  •   For more details regarding our privacy policy please visit: www.khyberexchange.com
Eligibility
  •   You must be at least 18 years old to use our service.
  •   We reserve the right to terminate or suspend your access to our services at any time without prior notice indefinitely if:
    - If you attempt to transfer or charge funds from an account that does not belong to you.
    - Using our service or attempting to use it for any Prohibited Purpose.
    - If you have provided false evidence of your identity and keep failing in providing us with true, accurate, current and complete evidence of your identity or details regarding transactions.
    - If you fail to pass our customer due diligence and sanctions check.
    - If we find you in breach of Terms and Conditions.
    - If you attempt to hack, modify, overload our website or mobile application with malicious code.
    - If our compliance officer has decided to take action against you.
Information provided by Khyber Exchange before a transaction is placed.
  •   The amount the recipient will receive.
  •   Total Fees you will be charged.
  •   Location and destination where the recipient will collect the money.
  •   Estimate of time the funds will take for the recipient to be able to collect.
  •   If the transaction is not complete and paid for all information in the order will remain valid for 24 hours (or 5 days for bank transfers). If we have not received the relevant funds from you within this time frame, the order will be cancelled.
Contract between Khyber Exchange and You and how sending money works.
  •   Once you place a Transaction via our Website or app, an email will be sent to you acknowledging that your transaction has been created. Please note that upon creating a successful transaction it does not mean that your or transaction is accepted as compliance would have to check the transaction.
  •   We reserved the right to cancel transactions if:
    - If we are unable to obtain evidence of your identity.
    - You have provided false and incorrect information.
    - We are unable to contact you be the contact details you have provided. - You’re in breach of terms and conditions.
    - You or the order you placed are in breach of applicable laws and regulations or are made for prohibited purpose.
    - A Compliance Officer has taken a discretionary decision to do so.
  •   We shall not be liable for any damages, costs, losses incurred by the sender or the recipient or any third party because of any circumstances referred at Clause 5 or 7.
Information provided by Khyber Exchange after a transaction is placed.
  •   After you successfully paid for your transaction and we have processed it, you will receive an email with the following information:
    - The transaction Pin Number
    - Confirmation of your sending amount and the amount your recipient will receive.
    - The exchange rate applied.
    - Location for collection of the funds in case of cash collection.
    - An estimated timeframe of when the money will be available to the recipient.
Limitation on our liability
  •   We would not be liable for any losses incurred by your transaction in case of delay or cancellations.
  •   We are not liable for any breach of our obligations under the Contract to you nor for any failure or delay in performance of any obligations under the Contract arising from or attributable to acts, events, omissions or accidents beyond our reasonable control, where our failure to perform our obligations arise from:
    - an act of God, fire, flood, earthquake, windstorm or other natural disaster, explosion or accidental damage, war, threat of or preparation for war, armed conflict, imposition of sanctions, embargo, export controls, breaking off of diplomatic relations or similar actions, terrorist attack, to transportation, civil war, civil commotion or riots, pandemic or epidemic, industrial disputes, shortages of raw materials or components, general disruptions telecommunication systems, power supply or other utilities;
    - acts, decrees, legislation, regulations or restrictions imposed by any government or state;
    - malfunctions in communications facilities which cannot reasonably be considered to be under our control and that may affect the accuracy or timeliness of messages you send to us;
    - any losses or delays in transmission of messages arising out of the use of any internet access service provider or caused by any browser or other software which is not under our control; or
    - any Malicious Code interfering with the Service
  •   We do not bear any liability for you providing any incorrect details about your Recipient, including – but not limited to – errors and typos. If a Transaction has been picked up by another person than the Recipient, because of your failure to provide correct details, we will only be obliged to provide reasonable assistance to try to retrieve the funds back and if we are unable to retrieve the funds we are not liable for the losses. We may charge you for any such assistance.
  •   We bear no liability if the wrong receiver collects the money as you are the only individual that has the transaction pin number and give it to your recipient.
Your responsibilities and obligations
  •   You must be at least 18 years of age to use our services.
  •   Fees that we charge for each service provided to you has to be paid.
  •   You shall comply with these Terms and Conditions as well as with any applicable laws, rules, and regulations.
  •   In relation to signing up and use of the Services you will:
    - provide accurate, current, complete and true evidence of your identity and any additional information or evidence we may require to confirm your identity;
    - supply us with all information and documentation we may ask to process your transfer and to comply with any legal requirements applicable to us.
    - You must update all information you provide to us to keep it accurate, current, complete, and true.
    - not use the Service for or in connection with any Prohibited Purpose or attempt to tamper, hack, modify, overload, or otherwise corrupt or circumvent the security and/or functionality of the Website and/or the Application or to infect it with any Malicious Code.
    - Transfer money only from your own credit, debit card or bank account. If found to use someone else’s card you are liable for £20 charge.
    - not open duplicate accounts with us or impersonate another person.
    - Keep your Transaction Pin Number secure, you must not share the pin number or any other transaction details with anybody except the recipient.
    - use the services to send money only to people that you know people personally or pay goods and services from suppliers whose ID you have verified. You must acknowledge that we have no control over the supplier or the goods and services for which you use our Service to make payments and we have no responsibility for the quality, safety deliver or legality of such goods or services.
  •   You understand and accept that:
    - By the laws of United Kingdom we are legally obliged to retain information about our customers for up to 5 years.
    - All exchange rates as published on the website and the application.
    - Some countries have imposed minimum and maximum thresholds in relations to paying out the amounts you send.
    - You will be liable to us for all losses which we suffer or incur in relation to any fraud or fraudulent activity by you or any breach of the Terms and Conditions by you for which no refund would be issued.
Cancellations and refunds
  •   You have the right to cancel a transaction before we pay out the receiver. You must email us at supprt@khyberexchange.com
  •   If you cancel the transaction after we have received the funds we will:
    - The funds paid to us will be only refunded if we have not paid out the recipient. - We have the right to retain fees and charges for the services we provide. - If you notify us of the cancellation for which we have already sent the money to the pay out location then the cancellation of this refund is dependent on the time and length of period our partner takes to respond to us.
  •   If refund is processed it may take up to 5-10 working days for refunds to be credited into your account.
  •   We reserve the right not to refund amounts smaller than £20.00 if the refund has been requested by the customer with no fault of our own.
  •   We will cancel any payment that is intended to be paid out into the account of a commercial account including but not limited to, charities, business accounts.
  •   In the event if incorrect details have been provided by you and you have not exercised the rights to cancel the transaction (in case of bank deposit) your transaction will be automatically cancelled in 7 Days.
Promotions and special offers
  •   All promotions and specials offers run by Khyber Exchange are subject to promotion specific terms and condition.
  •   Khyber exchange reserves the right to disqualify individuals.
Referrals
  •   Existing customers can earn a referral credit of specified value towards a qualifying transaction if a referred friend clicks on a unique referral link ( A link shared via what’s app or email) and creates an account via that link.
  •   The referral credit is non-transferable, non-negotiable, non-refundable and cannot be exchanged for cash nor transferred to personal bank account.
  •   Each person invited must make a transaction above £100 in order for you to receive the Credit.
  •   You will only receive credit with each new friend that registers and places a new transaction.
  •   You will not be paid for a repeated transaction of a person you invited as you have already received the credit.
Fair use of the referral program
  •   You can not create more than one account in order to invite yourself.
  •   Invite individuals who create duplicate accounts.
  •   You can not use the referral program any anyway that breaches any applicable laws and regulations.
  •   You can not use the referral program any anyway that breaches any applicable laws and regulations.
  •   We have the right to refuse to pay you the referral credit if we suspect that you have not used the referral program in good faith or have breached the terms and conditions.
Complaint Procedure
At Khyber Exchange, we always aim to provide you with the highest standards of service – both through our product and our Customer Support team, who are always on hand to help with your inquiries. However, we do understand that there may be rare occasions where our service has not met your expectations.

If this is the case, we wish to extend our sincerest apologies to you that you feel we have let you down, and we will remain committed to righting the situation with you wherever possible.
This article contains details of our complaints procedure and your rights as a consumer. The procedure has been designed in line with the recommendations and requirements of our regulators at the Financial Conduct Authority (FCA) and the Financial Ombudsman Service (FOS).

Although you have the right to make a complaint orally, for the sake of a clear understanding of the issues at hand, we would always recommend that you submit your complaint by email to support@Khyberexchange.com clearly detailing your account membership number.
Please outline fully the nature of your dissatisfaction or complaint, and your email will be escalated to the correct individual or department. All of our Customer Support team receive training on recognizing, managing a complaint and are aware of our internal escalation procedure.
We will then:
  •   Send you written acknowledgment that your complaint has been received;
  •   Contact you further should we require any additional information regarding your case;
  •   Fully investigate your case and your concerns, followed by issuing a detailed response, including an explanation of our decisions, and reasons for our actions. If you remain dissatisfied with our response, you have the right to forward your concerns to the Financial Ombudsman Service.