Cancellation And Refund Policy

USER’S RESPONSIBILITIES

1. You acknowledge and agree with:

  • Foreign currency exchange rates vary from time to time. The Company will not entertain any claim for compensation due to change in the rates.
  • You shall only make payment for bookings upon receiving formal electronic (e.g. the in-app chat function) or written communication from the Company, which should be retained for use in the event of any discrepancies.
  • You shall satisfy all regulatory including but without limitation to Anti-Money Laundering, Anti-Terrorism Financing, Proceeds of Unlawful Activities Act 2001 and Money Service Business Act 2011 (Applicable Laws).
  • You shall fully cooperate in the event that additional information is requested from you by the Company to carry out Customer Due Diligence requirements as required by the Applicable Laws.
  • Any refund may be liable to additional charges as deemed necessary by the Company at its sole discretion including but not limited to charges, costs or expenses of whatsoever nature including FPX or bank charges the Company may have incurred.

2. By making a booking, you agree that:

  • any arising liability is on your own account;
  • you are waiving all right of claims and may not hold the Company liable from any legal action or losses incurred;
  • if you have made any advance payments before the completion of any regulatory checks on yourself/yourselves or provided insufficient information to process a refund, you may face a delay in receiving any qualifying refund. In this respect, you agree and acknowledge that you are aware that the Company may require additional time to process the refund, though we will strive to expedite any such process.
  • any refunds for prepayments will be subject to conversion of pre-purchased currency to Ringgit Malaysia at the Company’s “Buy” rate or original “Sell” rate whichever is lower.

CANCELLATIONS MAY BE CATEGORISED INTO THE FOLLOWING TYPES:

1. Cancellation Upon Completion of a Purchase/Sale Transaction:

  • We do not allow a cancellation for a completed transaction where the currency exchange has already taken place and a receipt has been issued. In the event, you wish to cancel the completed transaction, you shall immediately perform an opposite transaction to your earlier exchange to reverse the purchase or sale (e.g., sell back the purchased foreign currency to the Company). You are liable to pay for the difference in the buy/sell rate at the prevailing board exchange rate set by the Company.
  • You shall only use the QR Code-based payment facility to make payment when instructed to do so by our staff upon agreeing the amount to be paid and meeting any compliance checks, if applicable. In the event, you inadvertently overpay with the incorrect amount, we will endeavour to process the refund within 2 working days after receiving a request of over-payment refund from you together with your bank account details. Such request should be made via emailing at [email protected], or alternatively, providing the selected branch which you have overpaid to the printed copy of the form within 1 day after the payment has been made, and approval of requests is subjected to applicable rules and regulations laid out by the Law. Our staff will inform you once your refund is ready for collection at the respective branch.

2. Cancellation of Bookings

a. Cancellation where no payment has been made:

  • If the booking order is made using the CurrenSeek mobile app or website Booking facility and you would like to cancel it, please cancel the booking using the app or website and provide a reason when prompted. The Company reserves the right to stop honouring further bookings by you if multiple cancellations are made without good reason.
  • If the order was made by any other methods (e.g. telephone or email), please then let us know as soon as possible by using your initial order method, quoting the order details (Foreign Currency and Amount Reserved) and your contact information (Name and Mobile Phone Number).

b. Cancellation where full or partial payment has been made while ordering online:

  • By making a payment you have entered into a binding contract with the Company and, in the event that you decide to cancel the order, you are liable to pay for the difference in the buy / sell rate at the prevailing board exchange rate set by the Company.
  • The Company reserves sole and absolute discretion to decline any order performed by you without assigning any reasons thereto. In such events, the Company shall process a refund for the amount received to you by cash within 2 working days from the date the order is declined.
  • Any claim for any charges, costs or expenses of whatsoever nature incurred by you in relation to such order will not be entertained. In such events, you shall not hold the Company, its directors, officers, suppliers, employees, subsidiaries, related corporation, associates, distributors and affiliates responsible nor liable for any Losses incurred by you in connection with use of the Service.
  • In the event, you fail to collect the purchased currency within the agreed collection date, the Ringgit amount received from you will be transferred to the Company’s unclaimed money account.

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