Terms and Conditions
GENERAL TERMS AND CONDITIONS
· As a user of foreign exchange services, you agree and confirm being aware of all regulatory norms. (If you need any information regarding regulations,limits please call our helpline @ 1800-3010-9686
· Buyforexonline.com will not be responsible for any transaction executed through us by forgery or unprocessed information. The user will be solely responsible for such action and liable to regulatory actions.
· All orders need to completely comply with regulatory guidelines; any deviation from the same will be the sole responsibility of the user. (If you need any information on guidelines please write/call us at firstname.lastname@example.org/1800-3010-9686)
· All order values will be rounded off to the nearest currency unit.
. All INR calculations will be rounded off to next value.
· Deliveries only to the area covered by Paul Merchants Limited, our partner who is an RBI Authorized forex agent. For rest of the locations we have pick-up arrangement with Bank. (for location assistance, call our helpline 1800-3010-9686)
· On return complete encashment of card balance is allowed, no part encashment.
· Currently all encashment would be paid through an account payee cheque and it will be hand-delivered to the beneficiary.
· Rates are subjected to major fluctuation.
· Travel cards are non-transferable, only to be used by the purchaser.
· User understands and agrees that all other foreign currency travel card related terms and condition as displayed on the card issuing banks website will be applicable.
. We offer only cash also, rates applicable for these transactions will be prevailing market rate. (Higher than rates dispayed on our Website)
· For order cancelled on client's request or non-compliance, the amount will be refunded after a deduction of payment gateway charges and Rs.300 and will be processed within 3 working days. In the case of orders placed through cheque and NEFT/RTGS payment, the order confirmation fee of 2% will not be refunded.
· If for any reason, we are unable to complete the order, total amount paid for the order will be refunded within 3 working days.
. In the event, the Forex card gets funded before delivery, and order cancellation is requested, an Encashment process will be followed. Encashment takes 7 working days to be fulfilled.
· For orders cancelled after the delivery is completed, Encashment process will be followed; Encashment rates, as displayed on our website will be applicable for refund orders.
PAYMENT GATEWAY CHARGES:
· This fee is also known as 'Merchant Service fee', and is applicable on all transactions where the customer wants to pay online. Currently, complete payment made using debit card is charged at 1% and credit cards are charged at 1.85% (plus service tax) , subjected to change as decided by respective service provider.
· Minimum Order value varies with currency. (For GBP/USD/EURO- 100 Units, For THB- 2000 Units, For JPY 20,000 Units)
· ATM withdrawal Charges are specific to each bank card. Please check the appropriate bank website for the same. General schedule of charges will also be available in the information booklet provided with the card kit.
· All encashment will be done only in favour of the card holder, irrespective of payment being done by the primary card holder. (Regulatory Norms and Standard Operating Procedures)
· The information's provided on our website is used only for the completion of services; we may share this information with our partners for completion of services with whom we have lawful contracts. We ensure all data collected in completely secured and safe.
· BuyForexonline.com may amend, change the usage policy for the betterment of client service and safety. The User is advised to review these clauses in regular intervals or you may write into us for any further query.
· Unauthorized use of the website may lead to a claim for damages and/or be a criminal offense.
· You agree and understand that you are responsible for maintaining the confidentiality of your password which, together with your login e-mail address, allows you to access certain portions of the website.
· If you become aware of any unauthorized use of your registration information, you agree to notify us immediately.
· From time to time, this website may also include links to other websites. These links are provided for your convenience to provide further information. They do not signify that we endorse the website(s). We have no responsibility for the content of the linked website(s).
· Any material downloaded or otherwise obtained through the use of the website is done at your own discretion and risk and you are solely responsible for any damage to your computer system or loss of any data that results from the download of any such material.
· Buyforexonline.com shall have the absolute discretion to amend or supplement any of the Terms at any time.
· The Customer shall be responsible for regularly reviewing these Terms including amendments thereto as may be posted on the Website.
· The Customer agrees to protect and fully compensate Buyforexonline.com and their affiliates from any and all third party claims, liability, damages, expenses and costs, including, but not limited to, reasonable attorney's fees, caused by or arising from violation of the terms and conditions, infringement or infringement by any other user of Customer's account, intellectual property or other rights of anyone.
· All rates are indicative.
· Buyforexonline.com is a service provider and does not own any of the products.
· Buyforexonline.com takes complete responsibility of servicing our clients for all transactions made through us in coordination with our service provider.
· By registering on BuyForexOnline.com, you are authorizing BuyForexOnline.com to contact you, send newsletters, promotional messages & updates when required. The user also authorises BuyForexOnline.com to share contact data with its logistics partners, banks, and payment gateway.
· This service is only available for Indian nationals residing in India.
AMENDMENT TO SERVICE TAX REGULATIONS
The minimum amount of service tax to be paid is Rs.45/- irrespective of transaction value up to Rs.25,000/-
Value > Rs.1,00,000 up to Rs.10,00,000/- Rs.180/- PLUS (+) 0.09% of the gross amount of foreign currency exchanged in excess of Rs.1,00,000/-
Example : Rs.180/- will be the tax amount at 0.18% of the value on Rs.1,00,000/- as per the first slab above and while making transactions above the value of Rs.1,00,000/-, service tax to be charged is 0.09% on the amount in excess of Rs.1,00,000/-. For example, if the transaction value is Rs.2,00,000/-, the service tax will be Rs.180/- + 0.09% of the amount in excess of Rs.1,00,000/- i.e. Rs.90/- aggregating to Rs.270/-.
Value > Rs.10,00,000/- Rs.990/- PLUS (+) 0.018% of the gross amount of foreign currency exchanged in excess of Rs.10,00,000/-
Rs.990/- (total of first and second slab above) PLUS (+) 0.018% of the amount in excess of Rs.10,00,000/- subject to a maximum of Rs.60000/-.
For example, if the transaction value is Rs.11,00,000/-, the service tax shall be calculated as under:
(a) For the first Rs.1,00,000/- @ 0.18% = Rs.180.00
(b) For the next Rs.9,00,000/- @ 0.09% = Rs.810.00
(c) For the remaining Rs.1,00,000 @ 0.018%= Rs. 18.00
· A Service charge of Rs.100 + service tax is applicable (per applicant).
· All payments made is routed directly to RBI authorised service provider, who will be delivering your forex.
· All Transactions to be executed by a RBI dealer.
*CARDS WITH FREE ATM WITHDRAWALS
- FIRST 2 ATM Withdrawals PER MONTH are free for leisure travel and for education. There will be no charges from the card issuing bank. But please note you may encounter some basic Acquiring Bank charges at some ATMS which cannot be waived off.
- There are no Free ATM withdrawals for travel to Thailand because all ATMS in Thailand charge a Basic Acquiring Bank ATM fee of 200 THB. In terms of Card Issuing bank charges, for leisure travel & education, the first 2 withdrawals are free.
- Free ATM withdrawal offers is not applicable on orders placed through bank pick-up.
Beneficiary Bank Charges:-
- For remittance, multiple banks are involved before the fund reaches to the beneficiary, every bank levies certain charges for processing the transaction. We at BuyForexOnline.com have worked out the net charges which is levied so that actual amount intended is credited to the beneficiary. The charges are as below:
GBP: 20, EUR: 25, USD: 30, AUD: 30, NZD: 30 & SGD: 30.
ZERO MARGIN RATES!
- - Forex card Zero margin valid on all currencies
- - Each order must have a Travel Card component.
- - Currency notes component is limited. Zero Margin offer on cash is subject to limits.
- - Cash at Zero Margin rates is applicable only on the first order for the trip. Offer not valid on multiple cash orders for the same traveller for the same trip.
- - If you have only Cash requirement, please call us for rates.