Best Forex Pty Ltd- Term and Conditions
Best Forex(BF) is a company registered with ASIC under ACN 152021746.
BF provides money transfer services whereby you authorise BF to transfer funds to a person overseas; and/or receive Funds from a person overseas.
These terms and conditions apply to and govern all money transfer and associated services between you and BF.
You can conduct a money transfer transaction to overseas or collect payment against an inward money transfer transaction from the office of BF within the working hours. At present BF working hours are 10am to 6pm Monday to Friday and subject to change.
In order to send a money transfer, you can send the complete details of sender, beneficiary, mode of payment, agreed exchange rate and the currency and amount of payment by phone, SMS, fax, email or through our on line application system. You also must provide a valid photo identification document acceptable to BF. You warrant that all information you supply to BF is and shall remain accurate and complete.
The information provided to BF by any acceptable means of communication, BF will use the information provided by you to carry out your money transfer instructions. BF saves all your personal information in its record for the purposes of the maintaining of its ongoing relationship with you. BF will not share your information with any third parties except as required by law.
When using BF money transfer services,It is your responsibility to provide BF with correct details. Further you justify to BF that any money transfer sent or received on your behalf is for lawful purposes and the information provided to BF is correct.
BF is not under any obligation to accept your application and may decline the same at BF discretion.
When submit application to send a money transfer, you are required to first make payment of equivalent amount in local currency in cash either at the office of BF, or depositin BF nominated bank account or transfer funds through internet to BF nominated account. Under any mode of payment, the money transfer will only be processed after making the payment by you and against clear available funds in cash or in BF account.
Maximum permissible amount per transaction for payment to the receiver in cash or deposit in his account at the destination country will apply. Ask BF staff for the limits applicable to your transfer.
As required by law, BF is to report all send and receive money transfer transactions to AUSTRAC, the local regulatory authority. Besides, if you make payment of A$10,000 or above in cash, a separate reporting is made to regulatory authority.
BF apply variable amounts of fees and charges depending upon the amount and country of transfer. Sometime, BF also offer money transfer service free of charge in promotional period. However, in case where the money transfer fee is zero for any particular country or in a promotional period, if the amount is large and per transaction limit is applied, BF has to split the amount of transaction. In such case the first transaction will be free of cost, whereas subsequent transactions will bear normal fees and charges.
The exchange rates of various currencies are displayed on web site by BF and updated on regular basis. These rates are for indication only and subject to change at any time. Before sending money overseas, please contact us and ask for the exchange rate of the country of remittance. The exchange rate given by BF, if agreed by you, please make payment in equivalent local currency plus BF fees and charges by cash, cheque or internet transfer.
In case you do not book or agree an exchange rate with BF before making the payment, the money transfer will be processed by BF at the then prevailing rate and the amount will be sent equivalent to the amount received from you after deduction of fees and charges if any.
BF also keeps a certain margin in exchange rate on your money transfer. The exchange margin will be the difference in exchange rate set by BF for you and received by BF from its overseas correspondents. Any exchange rate benefit between the exchange rate given to you and received from overseas correspondent will be kept by BF.
BF ensures to transmit payment instructions to its overseas service provider, complete and accurate. BF accepts no further responsibility after funds have been paid over the counter, or by cheque handed over personally to the receiver or despatch at his address or deposited in his nominated account.
Payment of a money transfer to the beneficiary in overseas may in some circumstances be subject to local taxes and/or service or administrative charges for which BF holds no responsibility and the sender or receiver is liable to pay the amount.
If payment to the beneficiary is not reached or made by the overseas correspondent of BF within one month, the amount of money transfer will be refunded to the sender upon a written request of the sender. However the proper procedure for cancellation of transaction is to be followed and the payment will only be made when received back from the overseas correspondent less their charges if any.
Please avoid sending money to a person you do not know. BF does not guarantee the delivery of the money transfer. BF or any of its agents or staff member is not liable for damages for the delay, non payment or underpayment of such money transfer. Further, BF or its agent or staff in no event be liable for any indirect, special, incidental or consequential damages.
BF endeavour to handle your money transfer transaction in an efficient manner. However, BF is not liable to carry out its obligations referred to in these terms and conditions if it is not reasonably practicable for BF to do so for reasons or events outside BF's control including but not limited to earthquake, or other act of God, war, loss of telecommunications or essential services, terrorist attack etc.
BF reserves the right to change these terms and conditions without notice any prior notice to you at any time.
These terms and conditions are to be governed by any construed in accordance with the laws on Australia