Terms & Conditions

1. About Us

GCC Exchange UK Limited ("we", "us", "our") is a company incorporated in England and Wales under company registration number 06030454, whose registered office is:

90 High Street
Southall
England
UB1 3DB

GCC Exchange UK Limited is authorised and regulated by the Financial Conduct Authority ("FCA") as an Authorised Payment Institution under Firm Reference Number (FRN) 596446.

GCC Remit is a trading name of GCC Exchange UK Limited.

These Terms & Conditions govern your use of:

• The GCC Exchange UK website;
• The GCC Exchange UK mobile application ("App");
• Any related payment and remittance services provided by GCC Exchange UK Limited.

By accessing, downloading, registering for, or using our App, website or services, you agree to be bound by these Terms & Conditions.

If you do not agree with these Terms & Conditions, you must not use our services.

2. Our Services

GCC Exchange UK provides international money transfer and payment services from the United Kingdom to supported countries.

Services may include:

• International money transfers;
• Beneficiary management;
• Exchange rate quotations;
• Transaction tracking;
• Rate alerts;
• Payment processing through approved payment methods;
• Related remittance services.

We reserve the right to add, remove or modify services at any time.

3. Eligibility

To use our services, you must:

• Be at least 18 years old;
• Be legally capable of entering into a binding contract;
• Reside in the United Kingdom where required by our onboarding criteria;
• Hold a bank account in your own name where applicable;
• Successfully complete all required verification checks;
• Comply with all applicable laws and regulations.

We may refuse or terminate services where eligibility requirements are not met.

4. Account Registration and Security

You must register and successfully complete identity verification before accessing certain services.

You agree to:

• Provide complete, accurate and current information;
• Keep account credentials confidential;
• Maintain control of your device and authentication methods;
• Notify us immediately of any suspected unauthorised access;
• Take all reasonable steps to protect your account.

You are responsible for all activity carried out using your account unless you can demonstrate that activity resulted from our negligence or system failure.

We may implement:

• Multi-factor authentication;
• One-Time Password verification;
• Device verification;
• Transaction monitoring;
• Fraud prevention measures.

5. Identity Verification (KYC)

As an FCA-regulated payment institution, we are required to comply with:

• The Payment Services Regulations 2017;
• Anti-Money Laundering legislation;
• Counter-Terrorist Financing obligations;
• Know Your Customer (KYC) requirements;
• Sanctions screening obligations.

We may request:

• Passport;
• Driving Licence;
• National Identity Card;
• Proof of Address;
• Proof of Source of Funds;
• Proof of Source of Wealth;
• Additional information reasonably required for compliance purposes.

Failure to provide information may result in:

• Delays;
• Transaction rejection;
• Account suspension;
• Account closure.

6. Payment Orders

By submitting a payment order, you confirm that:

• You are authorised to use the payment method selected;
• All information supplied is accurate and complete;
• Beneficiary information is correct;
• The funds being transferred belong to you or are being transferred with lawful authority;
• The transaction does not breach any applicable law.

A Payment Order becomes effective once accepted by GCC Exchange UK.

We reserve the right to refuse or suspend any transaction where we reasonably believe:

• Regulatory requirements are not satisfied;
• Additional verification is required;
• Fraud or financial crime concerns exist;
• Sanctions concerns arise;
• The transaction may breach any legal obligation.

7. Fees and Exchange Rates

All applicable fees and charges will be disclosed before you confirm a transaction.

Exchange rates:

• May fluctuate;
• May vary during the day;
• Are subject to market conditions;
• Become fixed only when a transaction is confirmed by us.

You accept that exchange rates displayed before confirmation may change before a transaction is completed.

No hidden fees will be charged by GCC Exchange UK.

8. Payment Methods

We currently accept:

• UK bank transfers (including Faster Payments, CHAPS and BACS where supported);
• Debit cards issued in your own name.

We do not currently accept credit cards unless expressly notified by us.

You must ensure:

• Payment originates from an account in your own name;
• Sufficient funds are available;
• Payment details provided are accurate.

We reserve the right to reject payments originating from third parties.

9. Cancellations and Refunds

At GCC Exchange UK, we aim to process cancellation and refund requests fairly, promptly and transparently in accordance with the Payment Services Regulations 2017, applicable consumer protection requirements and the FCA Consumer Duty.

9.1 Your Right to Cancel

You may request cancellation of a Payment Order at any time before it has been executed.

• You may request cancellation before the Payment Order has been executed;
• Once a Payment Order has been executed, cancellation may no longer be possible;
• Customers will be informed before confirming a Payment Order that cancellation rights may be restricted after execution;
• Cancellation fees may apply where permitted by applicable law.

9.2 How to Request Cancellation

Cancellation requests may be submitted using the following methods:

Email (Cancellation Requests Only): gcclondon@gccexchange.com

Telephone: +44 20 8571 2065

Post:
GCC Exchange UK Limited
90 High Street
Southall
UB1 3DB

You should provide:

• Your full name;
• Transaction reference number;
• Date of transaction;
• Reason for cancellation.

9.3 Circumstances Where We May Cancel

We may cancel a Payment Order where:

• Compliance requirements are not met;
• Identity verification cannot be completed;
• Fraud or financial crime concerns arise;
• Sanctions screening identifies a risk;
• Beneficiary information is incomplete or inaccurate;
• A payment partner rejects the transaction;
• We become legally unable to complete the transaction.

9.4 Circumstances Where Cancellation May Not Be Possible

Cancellation may not be possible where:

• Funds have already been released;
• Funds have already reached the beneficiary's payment service provider;
• The beneficiary has collected the funds;
• The transaction has become irrevocable under applicable payment systems rules.

Where cancellation is no longer possible, we may attempt to recover funds on a best-efforts basis but cannot guarantee recovery.

Any reasonable third-party costs incurred during recovery may be deducted where permitted by law.

9.5 Refunds

A full refund will normally be provided where:

• A valid cancellation request is received before execution;
• GCC Exchange UK cannot complete the transaction;
• We have incorrectly executed the transaction;
• Applicable law requires a refund;
• Regulatory requirements require cancellation.

Where permitted by law, any cancellation fee will be limited to our actual and reasonable costs incurred.

We will never impose a penalty fee for cancellation.

9.6 Processing Refunds

Approved refunds will be processed without undue delay.

Refunds are typically credited back to the original payment method within five (5) to seven (7) Business Days, although actual timing may depend on your bank or card issuer.

9.7 Incorrect Information

You are responsible for ensuring that all payment and beneficiary information supplied is accurate.

GCC Exchange UK shall not be liable for losses resulting from incomplete, inaccurate or incorrect information provided by you.

Where possible, we may assist in attempting to recover funds and may charge a reasonable fee reflecting our actual costs.

9.8 Delayed or Defective Execution

Where GCC Exchange UK is responsible for the non-execution, delayed execution or defective execution of a Payment Transaction, we will take appropriate corrective action in accordance with applicable law and regulatory requirements.

10. APP Fraud Reimbursement Framework

GCC Exchange UK is committed to preventing fraud and protecting the integrity of payment systems.

Where GCC Exchange UK has reasonable grounds supported by evidence to believe that a customer has acted fraudulently, dishonestly or has deliberately attempted to abuse any APP reimbursement framework or reimbursement process, we reserve the right to:

• Refuse a reimbursement request;
• Suspend processing;
• Recover incorrectly paid reimbursement amounts;
• Report matters to regulatory authorities or law enforcement agencies.

Examples include:

• Providing false or misleading information;
• Making dishonest reimbursement claims;
• Collusion with third parties;
• First-party fraud;
• Deliberately facilitating fraudulent payments.

All actions will be taken in accordance with applicable law and regulatory requirements.

("APP" in this clause refers to Authorised Push Payment fraud as defined under the applicable UK reimbursement rules, not to the GCC Exchange UK mobile application.)

11. Beneficiaries

You are responsible for ensuring all beneficiary information is accurate.

This includes:

• Beneficiary name;
• Account number;
• Sort code;
• IBAN;
• SWIFT/BIC;
• Mobile wallet details;
• Any other required payment information.

GCC Exchange UK shall not be responsible for:

• Delays;
• Rejections;
• Misdirected payments;
• Failed transactions;

resulting from inaccurate information provided by you.

12. Prohibited Use

You agree not to use our services for:

• Fraud;
• Money laundering;
• Terrorist financing;
• Sanctions evasion;
• Criminal activities;
• Circumventing regulatory requirements;
• Providing false identification documents;
• Using another person's payment instrument without authority;
• Any activity prohibited by applicable law.

We may suspend or terminate accounts immediately where prohibited activity is suspected.

13. Security and Fraud Prevention

To protect customers and comply with legal obligations, GCC Exchange UK maintains appropriate security controls.

These may include:

• Multi-factor authentication;
• One-Time Password verification;
• Encryption technologies;
• Device monitoring;
• Transaction monitoring;
• Behavioural analytics;
• Fraud detection systems;
• Sanctions and compliance screening.

We may delay, block or decline transactions where additional checks are required.

You must immediately notify us if:

• Account credentials are compromised;
• A device is lost or stolen;
• Unauthorised activity is suspected.

14. Service Availability

We aim to provide uninterrupted access to our services.

However, we do not guarantee:

• Continuous availability;
• Error-free operation;
• Uninterrupted access;
• Permanent availability of any specific feature or service.

We may suspend, restrict or withdraw services for:

• Maintenance;
• Security reasons;
• Compliance requirements;
• Operational improvements;
• Circumstances beyond our reasonable control.

Where practicable, we will provide advance notice.

15. Intellectual Property

All intellectual property rights relating to:

• The App;
• The Website;
• Software;
• Technology;
• Logos;
• Trade marks;
• Service marks;
• Content;

remain the exclusive property of GCC Exchange UK Limited or its licensors.

You are granted a limited, non-exclusive, non-transferable licence to use the services solely for their intended purpose.

You must not:

• Copy;
• Modify;
• Reverse engineer;
• Distribute;
• Reproduce;
• Create derivative works from;

any part of the services without our prior written consent.

16. Limitation of Liability

Nothing in these Terms excludes or limits liability where such exclusion would be unlawful.

Subject to the above:

16.1 GCC Exchange UK Shall Not Be Liable For

• Indirect losses;
• Consequential losses;
• Loss of profits;
• Loss of business;
• Loss of opportunity;
• Loss of revenue;
• Loss of goodwill;
• Loss arising from third-party service providers;
• Delays caused by banks or payment networks;
• Events beyond our reasonable control.

16.2 Maximum Liability

Where we are liable, our total liability shall generally be limited to:

• The value of the affected Payment Transaction; and
• Any charges or interest we are legally required to reimburse.

16.3 Circumstances Beyond Our Control

We shall not be liable for delays or failures resulting from circumstances beyond our reasonable control, including:

• Natural disasters;
• Industrial action;
• Power failures;
• Internet outages;
• Telecommunications failures;
• Government actions;
• Regulatory restrictions;
• Armed conflict;
• Terrorism;
• Cybersecurity incidents;
• Banking system failures.

16.4 Your Liability

You may be liable for losses suffered by GCC Exchange UK where those losses arise from:

• Fraud;
• Deliberate misconduct;
• Negligence;
• Breach of these Terms & Conditions;
• Provision of false information.

17. Suspension and Termination

17.1 Suspension

We may suspend, restrict or temporarily block your access to our services, account, website or App where we reasonably believe that:

• You have breached these Terms & Conditions;
• Additional verification is required;
• We suspect fraud, financial crime or suspicious activity;
• We are required to do so by law, regulation or regulatory instruction;
• Continued provision of services may expose GCC Exchange UK Limited, our partners or customers to risk;
• We are carrying out maintenance, security reviews or system upgrades.

We will normally inform you of any suspension unless doing so would be unlawful or would compromise fraud prevention, security or regulatory investigations.

17.2 Termination by You

You may stop using our services at any time.

Termination of your account does not affect:

• Transactions already submitted;
• Outstanding fees;
• Ongoing investigations;
• Our legal and regulatory obligations.

17.3 Termination by GCC Exchange UK

We may immediately terminate or close your account where:

• Information provided by you is false, inaccurate or misleading;
• We detect or reasonably suspect fraud or criminal activity;
• You fail to satisfy KYC or compliance requirements;
• You breach these Terms & Conditions;
• We are required to do so by law or regulation;
• We cease offering the relevant service.

17.4 Effect of Termination

Termination shall not affect:

• Any rights accrued before termination;
• Ongoing investigations;
• Fraud prevention activities;
• Recovery of debts or liabilities;
• Regulatory reporting obligations.

18. Safeguarding Your Funds

In accordance with the Payment Services Regulations 2017 (as amended), GCC Exchange UK Limited safeguards all customer funds received for the execution of payment transactions.

Customer funds are segregated from GCC Exchange UK Limited's own funds and held in designated safeguarding accounts maintained with approved banking institutions.

Your funds remain safeguarded until:

• The payment transaction has been completed;
• The funds have been paid to the beneficiary's payment service provider;
• The funds are returned to you;
• The funds otherwise cease to be relevant funds under applicable law.

Safeguarding is designed to protect customer funds in accordance with regulatory requirements.

However, safeguarded funds are not protected by the Financial Services Compensation Scheme (FSCS).

19. Consumer Duty Commitment

GCC Exchange UK Limited is committed to delivering good outcomes for customers in accordance with the FCA's Consumer Duty obligations.

We will:

19.1 Act in Good Faith

We will act honestly, fairly and professionally in our dealings with customers.

19.2 Help Customers Achieve Their Financial Objectives

We will design and deliver products and services intended to meet customer needs.

19.3 Provide Clear Information

We will communicate information in a way that is:

• Accurate;
• Clear;
• Fair;
• Understandable;
• Timely.

19.4 Ensure Fair Value

We aim to ensure that fees, charges and pricing structures are fair and proportionate to the services provided.

19.5 Provide Appropriate Customer Support

We will seek to provide accessible and effective customer support throughout the customer journey.

19.6 Continuous Improvement

We regularly review our products, services, policies and communications to improve customer outcomes and maintain compliance with regulatory expectations.

20. Complaints Procedure

At GCC Exchange UK, we are committed to providing high-quality service.

If you are dissatisfied with any aspect of our service, we encourage you to contact us so that we may investigate and resolve the matter.

20.1 How to Make a Complaint

You may submit a complaint using the following methods:

Email: ukmlro@gccexchange.com

Telephone: +44 20 8571 2065

Postal Address:
GCC Exchange UK Limited
90 High Street
Southall
UB1 3DB

20.2 Information to Include

To help us investigate your complaint, please provide:

• Your name;
• Contact details;
• Transaction reference number (if applicable);
• Description of the issue;
• Supporting documents where available.

20.3 Complaint Handling

Upon receipt of your complaint:

• We will acknowledge receipt promptly;
• Investigate the matter fairly and impartially;
• Keep you informed of progress where appropriate;
• Provide a final response as soon as reasonably possible.

20.4 Financial Ombudsman Service

If you are not satisfied with our final response, or if eight (8) weeks have passed since your complaint was received, you may refer your complaint to:

Financial Ombudsman Service

Website: www.financial-ombudsman.org.uk
Telephone: 0800 023 4567
Postal Address: Financial Ombudsman Service, Exchange Tower, London, E14 9SR

21. Data Protection and Privacy

GCC Exchange UK Limited processes personal data in accordance with:

• UK GDPR;
• Data Protection Act 2018;
• Applicable privacy legislation.

Full details regarding how we collect, process, retain and protect personal information are available in our Privacy Policy.

By using our services, you acknowledge that your personal data may be processed for:

• Account administration;
• Payment processing;
• Fraud prevention;
• AML and sanctions screening;
• Regulatory compliance;
• Customer support;
• Service improvement.

Information may be shared with:

• Regulatory authorities;
• Banks and payment partners;
• Compliance providers;
• Identity verification providers;
• Professional advisers;
• Law enforcement agencies where required by law.

ICO Registration Number: Z3149163

22. Changes to These Terms

We reserve the right to amend these Terms & Conditions at any time.

Changes may be made to reflect:

• Changes in law;
• Regulatory requirements;
• Operational developments;
• Product changes;
• Security enhancements.

Updated versions will be published on our website and/or App.

Where required by law, we will provide notice of material changes.

Your continued use of our services after changes become effective constitutes acceptance of the revised Terms.

23. Governing Law and Jurisdiction

These Terms & Conditions and any disputes arising from them shall be governed by and construed in accordance with the laws of England and Wales.

The courts of England and Wales shall have exclusive jurisdiction over any dispute arising out of or in connection with these Terms & Conditions unless applicable law provides otherwise.

Nothing in these Terms affects any statutory rights available to consumers.