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- This Agreement is between the Customer (hereinafter referred to as ‘Customer’, ‘You’, ‘Your’) and Muthoot Global UK Ltd (hereinafter referred to as ‘Muthoot ’, 'Muthoot Global',‘Our’, ‘Us’, ‘We’) of 5 B King Street, Southall, Middlesex, United Kingdom, UB2 4DF.
- Our agreement with You is that We will take reasonable care to provide the money transfer service. As such, We agree to provide You with the money transfer services including person to bank transfers and, person to person transfers.
- The Terms & Conditions set out herein apply to all send and receive payments executed by Muthoot Global through any of the services offered by Us. These Terms & Conditions may be amended from time to time.
- Muthoot Global is free to use service(s) of intermediary banks/financial service institutions/other money service businesses in any country of its choice for execution of money transfer.
EXECUTION OF TRANSACTIONS
- We may, in Our sole discretion, refuse any transaction or limit the amount to be transferred. The limits imposed are done at Our sole discretion and may be changed from time to time. We may also refuse to send money or allow to be paid at the destination or receiving end if We believe that: (1) by doing so We might break any law, regulation, code or other duty and responsibility that applies to Us; (2) by doing so it may expose Us to action from any government or regulator; (3) it may be linked with fraudulent or illegal activity; or (4) You are in breach of these terms and conditions.
- Unless the law prevents Us, We may (at Our sole discretion) inform the Customer reasons for Our refusal and how the Customer can rectify any errors in money transfer instructions given.
- We act only as a money transmitter and accept no responsibility or liability arising from transactions between the sender and any third parties. (in particular We accept no responsibility or liability for any goods or services including quality and delivery of them, which are paid for by money transfer). You are cautioned in sending money to any person whom You do not know.
- We have no obligation to You to initiate or perform a money transfer service if: (a)We are unable to obtain satisfactory evidence of your identity; (b)We have reason to believe that the details provided by You is incomplete, incorrect, unauthorized or forged;(c) We fail to obtain payment (i.e. the amount to be transferred plus the applicable fees/charges) for the transaction from You; and We do not accept any liability for damages resulting from non-payment or delay in payment of a money transfer to a recipient or failure to perform a transaction by reason of any of these matters.
- If beneficiary details and payment for the transaction is received on or before 5.30 pm GMT (Monday to Saturday), the transaction will be processed on the same day. Those that are received after the cut off time will be processed and released on the following working day with the exchange rate at which the transaction request was created.
Funds should be transferred to us, immediately after the transaction request is created. In case of any unexpected banking delays, we will be processing the transactions with the same rate (the rate at which the transaction request was created), provided we receive the fund within the closing of the next working day. If the funds are not credited in our account, even by the closing of next working day, we will reject the transaction request. Such instances could also result in suspension of your online Muthoot account.
If more than one transaction request is created with the same beneficiary details we will consider them as individual transactions and will execute them in the order in which they were created.
- In order to collect the money and complete a transaction, the reference number and identification will have to be provided for certain type of transaction. Please ask Our staff in any of Our branches for further details.
- The Customer should not disclose the reference number, value of transfer or other information about the transfer to any other person other than the intended recipient.
- In case of bank transfer, We will transfer the money to the beneficiary’s bank account specified by the Customer in the form. If the account is in the EEA, the bank holding the account will receive the money within four working days (Monday to Friday, excluding bank holidays) from the date of processing the transfer. Banking practice may vary if it is outside the EEA and for more information on when the payment will be credited to such an account, the Customer needs to contact the recipient bank. The recipient bank may apply its own charges which do not involve Us.
- The exchange rate quoted by Muthoot Global through any means (including but not limited to telephone, email, website etc) is an indicative rate only and is subject to change as per market fluctuations. Accordingly the rate which applies to the transfer will be the prevailing rate at the time of processing the transaction.
- Transfer fees/charges as displayed in each of our branches shall be charged from the Customer for each transfer made by the Customer. Transfer fees/charges may vary depending on location and/or currency. Transfer fees and charges may change from time to time and without advance notice. Changes will be displayed in each of Our participating branches and You will be notified of the transfer fees/charges prior to each transaction. Details of the transfer fees/charges can also be found on the transaction receipt issued to You. Intermediary/correspondent/ collection charges as applicable in some countries will be deducted at the paying end.
- In case of an Amendment, a minimum of 6GBP will be charged.
- If We fail to complete Your transaction within a reasonable period as applicable in the circumstances, You will be entitled to a refund of the transfer amount of Your transaction and Your transfer fee/charge unless We can show that the bank or the payout location received the money or that there was a mistake in the recipient details provided to Us by You. In case of refunds, We will promptly refund the transfer amount and the transfer fee/charge.
- In no event shall We be liable for damages for delay, non-delivery, non-payment, under-payment, or without limitation any other event relating to Your transaction, whether due to the fault, error or omission by Us, for more than the principal amount of Your transaction and the transfer fee/charge.
- In no circumstance shall be responsible for any losses or damages which are not foreseeable consequences of a breach of these terms and conditions or any failure to complete transaction and the transfer fee.
- We do not accept the responsibility for any failure to perform Your instructions as a result of circumstances which could reasonably be considered to be outside our reasonable control.
- You must inform Us immediately if You think that a transfer was not made properly or never arrived. We will not refund money to You if there is undue delay in informing Us about the problem and in any event if not informed within 13 months from the date of sending the money.
- We will not be liable to the Customer for any incidental, indirect, special or consequential losses or costs or damages or for business losses (such as loss to business profits or opportunities) the Customer suffers.
- The Customer does not have the right to cancel the transfer once the transaction is processed. Nevertheless if requested by the Customer, We may at Our sole discretion, cancel the transfer before it is paid out to the intended recipient. If the Customer wishes to cancel a money transfer and request a refund of the transfer amount, or make an amendment, the Customer must request Us in writing along with a copy of the money transfer receipt provided to the Customer.
- It is understood by the Customer that all such cancellation or amendment requests shall be subject to the rules governing cancellations/amendments (including cancellation/ amendment charges) of the intermediary banks/financial service institution/other money service businesses who makes the payout to the intended recipient.
- Amount of refund upon cancellation will be after deducting our cancellation charges and cancellation or back end charges of correspondent bank/ financial institution/intermediary.
ONLINE AND TELEPHONE TRANSACTIONS
- Subject to all the clauses specified herein, the following terms will apply to online and telephone transfers: (i) You agree to transfer funds in to our bank account immediately without any undue delay; (ii) You agree to register certain details of your debit card with Us before carrying out any cardholder not present transactions.
- We may, in Our sole discretion, refuse any transaction for any of the following reasons: (i) We do not receive authorization from the bank card issuer; (ii) We do not receive credit of your funds in Our account; (iii) the account from which the money is transferred or the card being used belongs to a third party; (iv) any fraud or credit checks conducted reveal any discrepancies; (v) we have reason to believe that there may be some fraudulent activity involved.
- The Customer irrevocably and unconditionally authorises Us to act upon unauthenticated instructions which appear or purport to be from the Customer, which are received by telephone, email, fax and/or other means of electronic communication.
- We are under no duty or obligation to make any inquiry into or to in any way verify instructions received from the Customer.
COMPLIANCE AND DATA PROTECTION
- The money transfer will be subject to laws related to monetary transactions in the United Kingdom/intermediary/destination countries and may be blocked/freezed in case found suspicious. The Customer and their recipient will be fully responsible to provide necessary evidence/clarification to prove legality of entities/funds.
- Applicable laws prohibit money transmitters from conducting business with certain individuals and countries. In order to comply, Muthoot Global is required to screen all transfers against a list of names provided by various governments and/or government agencies. If a potential match is found, we will suspend the transfer and request additional information on either the sender or the receiver, as necessary.
- We will report money transfers to any government authorities if We are required to do so by law.
- In using the money transfer service, We may need to send Your details to third parties. We are committed to protecting Your privacy. We may use Customer and recipient’s personal information and the details of transfer and store them on our database, in order to provide the customer and the recipient with our services, for managing our business and market research s permitted by applicable law. The Customer must have the recipient’s consent to share his/her personal information with Us We may for those purposes share information with Our group or other companies/institutions which maybe located within our outside the EEA.
- We may also use personal information provided by You in order to conduct appropriate anti-fraud checks. Personal Information that You provide may be disclosed to a credit reference or fraud prevention agency, which may keep a record of that information.
- The Customer may request access to his/her personal information, ask for the information to be corrected or updated or, for legitimate reason, oppose its processing, by writing or emailing to us.
- We maintain records of Your transaction history to the extent required under applicable law. Records will be updated on continuing basis as transactions are made and received.
- You agree to provide Muthoot Global with valid and up do date identity documents upon request and also You also agree that it is Your responsibility to update Your details and identity documents with Us as and when required.
- We are committed to provide the Customer with the best service at all times. In the unlikely event that the Customer is dissatisfied with our service, please write or email us addressed to Complaints Officer, Muthoot Global Money Transfers (P) Ltd, 5 B King Street,Southall, Middlesex,UB2 4DF,Tel: 020 8574 7940 firstname.lastname@example.org
- We will deal with Customer complaints promptly and fairly. In case we need more time to resolve the complaint, We will send an acknowledgement to the Customer within 5 working days and send a final response within 8 weeks of receipt of complaint. If the Customer does not receive Our final response after 8 weeks or is unhappy with Our final response, the Customer can write to The Financial Ombudsman Service, Exchange Tower, London E14 9SR. Phone:0845 080 1800: www.financial-ombudsman.org.uk; Email: email@example.com within six months from the date of the final response.
- We are also agents / clients of other money transfer service providers and making available these services to customers as their agents / clients under their business terms and conditions. If a Customer avails service of those companies through us, the terms and conditions of those companies shall also be applicable for the transfer. Please ask Our staff at any of Our branches for details on them.
- We will not be liable if We break this agreement because of abnormal and unforeseeable and circumstances outside Our control where We could not avoid breaking this agreement despite all efforts to the contrary which may include amongst other things, strikes, industrial action, problems with another system or network, mechanical breakdown, data processing failures, English or European Community law, government or government agency policy or other Force Majeure including, without limitation, Act of God, strikes, industrial action, equipment failure, interruption of power supplies, provided that Muthoot Global shall endeavour to give notice to its customer of any anticipated delays by notice in its branches.
LIMITATION OF LIABILITY
- Nothing in this agreement limits our liability for acting fraudulently or very carelessly and otherwise excludes or limits Our liability to the extent that We are able to exclude or limit by law.
- You expressly understand and agree that the service is provided on an ‘as-is’ and ‘as available’ basis. (a) Muthoot Global expressly disclaim all warranties of any kind, whether express or implied, including but not limited to the implied warranties of merchantability, fitness for a particular purpose, and non-infringement; (b) Muthoot Global make no warranty that (i) the service will meet Your requirements, (ii) the service will be uninterrupted, timely, secure or error free, (iii) the results that may be obtained from the use the service will be accurate or reliable, (iv) the quality of any products, services, information or other material obtained by You through the service will meet Your expectations, and (c) the use of the service is done at Your own discretion and risk, and (d) no advice or information, whether oral or written, obtained by You from Muthoot Global or through or from the service shall create any warranty not expressly stated in this agreement.
GOVERNING LAW AND JURISDICTION
- The law of England and Wales applies to this agreement and We will communicate with the Customer in English. The English courts shall have exclusive jurisdiction on all matters related to the service and this agreement.
- You agree to indemnify and hold us and Our respective affiliates, subsidiaries, officers, agents, co-branders and other partners, directors, and employees, harmless from any claim or demand, including reasonable lawyers and legal fees, made by any third party due to or arising out of Your use of this service, Your connection to the Service, Your violation of the terms of this agreement, or Your violation of any rights of another.
CONTRACT RIGHT OF THIRD PARTIES
- Nothing contained in this Agreement is intended to confer nor shall confer upon any person, other that the parties hereto, any rights under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of this Agreement or any benefits of remedies of any kind or character whatsoever, and so such person shall be deemed a third-party beneficiary under or by reason of this agreement.