These Terms and Conditions (“Terms”) govern the use of our remittance services (“Remittance Services”) provided through our mobile application (“App”) and online platform (“Platform”). By accessing or using our services, you agree to be bound by these Terms.
“Dandy Investment Group Pty Ltd T/A Danesh Exchange” (“we”, “our”, “us”) means the online and in App remittance service facilitating international transfers by customers (“you”, ”your”) to designated recipients in other countries (“Recipient”);
“Users” refers to our Australian customers who use our Remittance Service;
“Online and in App remittance services” (our “Remittance Services”) means the facilitation of the transfer of funds from users in Australia to designated Recipients in other countries. The Remittance Service includes the collection of funds from users, foreign exchange conversion, and the disbursement of funds to the designated Recipients;
“Recipient” refers to the designated individual or entity who is the intended recipient of the funds being transferred through the Remittance Service;
“Mobile Application” (“our App”) refers to our mobile application that you can download and install on your mobile device to access and utilise our Services;
“E-wallet” means the digital wallet functionality within the App that allows customers to store and manage funds for the purpose of initiating transaction and making payments;
“Exchange Rate” means the rate at which one currency is converted into another currency. It represents the value or price of one currency in relation to another currency and is determined by various factors, including market conditions and economic factors;
“Fees” mean the charges levied by us for the provision of our Remittance Services, which may include transaction fees, currency conversion fees, and any additional charges associated with the transfer;
“Transaction” means the transfer of funds through our Remittance Service, including initiating the transfer, providing necessary details and executing the payment to the designated Recipient;
“Currency Pair” means a set of two currencies involved in a foreign exchange transaction. It consists of a base currency and a quote currency, representing the amount of quote currency required to purchase one unit of the base currency;
“Buy Rate” means the exchange rate at which we buy a particular currency from customers who wish to sell that currency and acquire a different currency;
“Sell Rate” means the exchange rate at which we sell a particular currency to customers who wish to purchase that currency by exchanging a different currency;
“Spread” means the difference between the buy rate and sell rate offered by us. It represents our profit margin and covers operational costs and potential market risks associated with foreign currency exchange;
“Transaction” means a specific foreign currency exchange transaction initiated by you through our online platform, involving the conversion of one currency to another at the prevailing exchange rate;
“Account” means a registered user account created by a customer on our online platform, allowing access to the foreign currency exchange services, transaction history, and other relevant features;
“Payment Method” means the available methods provided by us for customers to deposit funds into their account or withdraw funds resulting from foreign currency exchange transactions. These methods may include bank transfers, credit/debit cards or other electronic payment options;
“Know Your Customer” (KYC) means the process of verifying the identity of customers in accordance with legal and regulatory requirements. It involves collecting and verifying personal information and supporting documentation to ensure compliance with anti-money laundering and counter-terrorism financing regulations;
“Anti-Money Laundering/Counter-Terrorism Financing” (AML/CFT) means the set of laws, regulations, and procedures that we comply with to prevent money laundering and terrorist financing activities. These measures include customer due diligence, transaction monitoring, and reporting suspicious activities to the appropriate authorities”;
“Business Day” means a day that is not a Saturday, Sunday, or a bank holiday in Victoria;
Description of Services
Danesh Remittance facilitates the transfer of funds from users in Australia to designated Recipients in other countries. The Remittance Service includes the collection of funds from users, foreign exchange conversion, and the disbursement of funds to the designated Recipients.
To use our Remittances Services, you must create an account on the App or Platform. You must provide accurate and complete information during the registration process, including personal details and the Recipient’s information. You are responsible for ensuring that the funds transferred through the Remittance Service comply with all applicable laws and regulations. You are responsible for maintaining the confidentiality of your account login credentials. You must promptly notify us of any unauthorised use or access.
Use of the Service
The Remittance Service is only available to individuals aged 18 years or over who reside in Australia and access the Service from Australia via the App or Platform. The Remittance Service may be used to send money to Recipients in other countries such as family or friends. We may, in our sole discretion, refuse to provide the Remittance Service to any person for any reason. We will not be liable for any cost, loss or damage incurred by you if we refuse to provide the Remittance Service to you.
Transaction details will be displayed with the App or Platform including your details, the designated Recipient, delivery method, transaction amount, currency, service fees, exchange rate and total amount for the transaction. By proceeding with the transaction, you confirm that all details are true, complete, and accurate.
Fees and Exchange Rates
By using our Remittance Services, you agree to pay the fees and charges as disclosed in the App or Platform through our currency converter calculator.
Direct deposit attracts a flat fee of AUD$5.00.
Cash pick-up starts at AUD$2.90.
Foreign exchange rates applied are based on prevailing market rates and may include a margin or spread.
Currency Conversion and Payout Amount
When you make a payment in one currency, but the Payout amount is in another currency, the following conditions apply:
Currency Conversion Rate:
a) The conversion rate used for currency exchange will be determine by us, in our discretion, based on prevailing market rates at the time of the transaction;
b) The conversion rate may include a small margin or fee to cover any associated currency conversion costs incurred by us.
Currency Conversion Disclosure:
a) You will be provided with an estimated Payout amount in the desired currency before confirming the transaction;
b) The estimated Payout amount is subject to change based on fluctuations in the currency exchange rates until the transaction is finalised.
Exchange Rate Discrepancies:
a) While we strive to provide accurate and timely currency conversion rates, there may be instances where discrepancies occur due to factors beyond our
control, such as market volatility or delays in receiving exchange rate updates;
b) Any differences resulting from exchange rate fluctuations between the estimated Payout amount and the actual Payout amount received will be borne by
Third Party Fees:
In some cases, intermediary banks, payment processors, or other financial institutions involved in the transaction may charge additional fees for currency conversion. These fees, if any, will be the responsibility of you and may impact the final Payout amount received.
It is important for you to review and understand the currency conversion terms and potential implications before proceeding with the transaction. By using our Remittance Services, you acknowledge and agree to the currency conversion process and any associated fees or fluctuations that may affect the Payout amount in the desired currency.
Transaction Limits and Security
We may impose transaction limits and reserve the right to request additional identification or documentation for certain transactions to comply with anti-money laundering and counter-terrorism financing regulations. [if applicable]
Disclaimers and Liability
We strive to provide accurate and reliable information and services, but we do not guarantee the accuracy, completeness, or suitability of the Remittance Service. We are not liable for any losses, damage, or delays arising from circumstances beyond our reasonable control, including but not limited to technical failures, natural disasters, or regulatory changes.
We reserve the right to suspend or terminate the provision of the Remittance Service to any user at our discretion, without prior notice. Users may terminate their use of the Remittance Service by notifying us in writing and settling any outstanding obligations.
Changes to Terms
We may revise and update these Terms at any time at our discretion. All changes are effective immediately when we post them. Your continued used of the Site or our Remittance Service following the posting of revised Terms means that you accept and agree to the changes. You are expected to check this page from time to time so that you are aware of any changes. We do not undertake to keep our Site up-to-date and we are not liable if any content is inaccurate or out-of-date.
Prohibition on Use of the Service on Behalf of Third-Parties
By accessing and utilising our Remittance Service, you acknowledge and agree that you are strictly prohibited from using the service on behalf of any third-party. The service is intended solely for your personal use and transactions.
You agree that you will not:
a) Initiate a transaction on behalf of another person or entity using your account or any other means;
b) Facilitate or enable a third-party to utilise the Remittance Service through your account or any other method;
c) Allow anyone else to use your account to perform transactions of their behalf.
We reserve the right to monitor account activity and transaction details to ensure compliance with this prohibition. Any violation of this clause may result in immediate suspension or termination of your account and may also be subject to legal consequences, as determined by applicable laws and regulations.
By using our Remittance Service, you affirm that all transactions conducted through your account are for your personal remittance purposes and that you will not engage in any activities that violate this clause.
Our Remittance Service may be used for legitimate and lawful purposes, including but not limited to:
a) Sending money to family members or friends;
b) Paying for goods and services;
c) Making financial contributions or donations to charitable organisations;
d) Settling contractual obligations.
The following activities are strictly prohibited and must not be conducted using our Remittance Service:
a) Engaging in illegal activities, including money laundering, fraud or financing of terrorism;
b) Making payments for illegal goods or services, including narcotics, weapons or counterfeit items;
c) Transferring funds to individuals or entities involved in illegal or illicit activities;
d) Violating any appliable laws, regulations, or international sanctions.
Cancellation or Refusal of Transactions
We reserve the right to cancel or refuse any transaction at our absolute discretion for any reason without giving any reason. We may refuse or cancel any transaction for certain reasons, including but not limited to:
a) Where we suspect, a transaction is connected to illegal or fraudulent activities;
b) Where a transaction violates applicable laws, regulations or international sanctions;
c) Failure to provide required identification or documentation;
d) The identity of the recipient cannot be verified;
e) You make a payment from a bank account or card that does not belong to you;
f) Due to technical or regulatory changes.
Provision of Information and Documentations
You must provide the requested information for us to process your transaction. This includes accurate, current, and complete information about your identity and any information required in relation to the Recipient. We reserve the right to request further information from you at any time to enable us to complete your transaction and/or to comply with regulatory requirements. We will use various procedures to authenticate each transaction. By using our Remittance Service, you confirm that the details contained in the transaction are correct in all respects.
You can request a refund within [days] of the transaction by contacting us at [email protected]. Once we approve your refund, we will process the refund within [days]. The refund will be credited back to the same bank account, card or e-wallet used to pay for the transaction in the same currency that you used in the transaction.
Prior to Transaction Sent for Processing:
If you wish to cancel a transaction before it has been sent to our service provider for processing, you must contact us immediately. We will make reasonable efforts to accommodate the cancellation request, and if successful, we will process a refund, minus any fees or charges incurred by us, associated with the transaction.
Transaction Sent to Overseas Partner for Processing:
In cases where the transaction has been sent to our overseas partner for processing but has not been executed, you may request cancellation by contacting us as soon as possible. We will liase with our overseas partner to ascertain the feasibility of cancelling the transaction. If cancellation is possible, we will refund you the original transaction amount, minus any applicable fees or charges.
Please note that once a transaction has been executed and processed, cancellation may not be possible. In cases where cancellation is not possible, you will be responsible for any applicable fees, charges, or exchange rate differences incurred.
Closing your Account
To close your account please send us a request to [email protected]. Please note that we have a legal and regulatory obligation to keep and store all records for a specified timeframe. After which time we will delete your records.
Third Party Rights
When you enter into a transaction with our Remittance Service, that we accept, we are entering a contract with you personally and not the Recipient. Nothing in these terms will confer any benefit on any third party or any right to enforce these terms, on any third party.
Accuracy and Timeliness of Information
We endeavour to ensure that all the information and exchange rates on our Site are accurate, however occasionally changes and errors occur, and we reserve the right to correct prices and other details in such circumstances.
Personal Information and Security
All credit and debit card holders are subject to validation checks and authorisation by the card issuer. If the issuer of your payment card refuses to authorise payment your order will not be accepted.
The Financial Transaction Reports Act 1988 (Cth) (FTRA) is an Australian law that aims to combat money laundering and terrorism financing activities. It requires certain entities to report certain financial transactions to the regulatory authority, which is the Australian Transactions Reports and Analysis Centre (AUSTRAC). Under FTRA, we are prohibited from dealing with sanctioned individuals or entities. According to Section 4 of the FTRA, a sanctioned person refers to an individual, entity, or country that is subject to economic or financial sanctions imposed under Australian law. If it appears that you are a sanctioned person or are acting on behalf of a sanctioned person or entity, we may be required to suspend or stop providing the Remittance Service to you. We may also be required to freeze any transactions with you and freeze any assets of yours which we hold.
These processes may cause a substantial delay in providing the Service to you or may prevent us from providing the Service to you.
Limitation of Liability
Our Services may come with guarantees that cannot be excluded under Australian Consumer Law. “Australian Consumer Law” means the uniform consumer protection law set out in Schedule 2 of the Competition and Consumer Act 2010 (Cth) (the CCA).
To the maximum extent permitted by law (including the CCA) we exclude all liability whatsoever to you or any other person (whether in contract tort or otherwise) for any loss (whether direct, indirect, consequential) including death or personal injury or damage of any kind that may be suffered as a result of any act or omission whether negligent or otherwise by or on behalf of us in connection with the Services or any other matter or thing relating to these Terms. This clause does not limit or exclude your rights under the CCA.
Where the law implies a warranty into these Terms which may not lawfully be excluded (in particular warranties under the CCA) our liability for breach of such a warranty will be limited to either supplying the Services again or payment of the cost of having the services supplied again.
We do not accept any liability for potential losses to you or any third-party resulting from a non-payment or a delay in payment of the intended Payout amount to the Recipient or failure to perform a transaction if you are in breach of the terms and conditions.
To the maximum extent permitted by law, you must indemnify us (our directors, officers, subsidiaries, employees, contractors, and agents) and hold us harmless, against any liability suffered or incurred by a third-party arising from or in connection with your use of our Services or any breach of these Terms or any applicable laws by you. This indemnity is a continuing obligation, independent from the other obligations under these Terms, and continues after these Terms end. It is not necessary for us to suffer or incur any liability before enforcing a right of indemnity under these Terms.
Unless otherwise indicated, we own or licence all rights, title, and interest (including intellectual property rights) in our Site, Platform, App and all content. You use of our Site, Platform or App and your use of and access to any content does not grant or transfer to you any rights, title, or interest in relation to our Site, Platform, App or the content. You must not:
a. copy or use, in whole or in part, any content;
b. reproduce, retransmit, distribute, disseminate, sell, publish, broadcast, or circulate any content to any third party; or
c. breach any intellectual property rights connected with our Site, App or the Content, including (without limitation) altering or modifying any of the content, causing any of the content to be framed or embedded in another website or platform, or creating derivative works from the content.
Third Party Links
Certain content, products, and services available via our Remittance Service may include materials from third parties. Third-party links on this site may direct you to third-party websites that are not affiliated with us. We are not responsible for examining or evaluating the content or accuracy and we do not warrant and will not have any liability or responsibility for any third-party materials or websites, or for any other materials, products, or services of third parties.
We are not liable for any harm or damages related to the purchase or use of goods, services, resources, content, or any other transactions made in connection with any third-party websites. Please review carefully the third-party's policies and practices and make sure you understand them before you engage in any transaction. Complaints, claims, concerns, or questions regarding third-party products should be directed to the third-party.
We may, at any time and without notice to you, discontinue our Site, in whole or in part. We may also exclude any person from using our Site, at any time and at our sole discretion. We are not responsible for any Liability you may suffer arising from or in connection with any such discontinuance or exclusion.
Warranties and Disclaimers
a. To the maximum extent permitted by law, we make no representations or warranties about our Site or the Content, including (without limitation) that:
b. they are complete, accurate, reliable, up-to-date and suitable for any particular purpose;
c. access will be uninterrupted, error-free, or free from viruses; or
d. our Site will be secure.
You read, use, and act on our Site or App and the Content at your own risk.
If a provision of these Terms is held to be void, invalid, illegal, or unenforceable, that provision must be read down as narrowly as necessary to allow it to be valid or enforceable. If it is not possible to read down a provision (in whole or in part), that provision (or that part of that provision) is severed from these Terms without affecting the validity or enforceability of the remainder of that provision or the other provisions in these Terms.
The headings used are for convenience only and shall not be deemed to define, limit, or construe the contents of any provision of these Terms. The meanings given to terms defined herein will be equally applicable to both the singular and plural forms of such terms. Whenever the context may require, any pronoun includes the corresponding masculine, feminine and neuter forms.
These Terms and any policies posted by us
on our Site or in respect to the Remittance Service constitutes the entire
agreement and understanding between you and us and govern your use of the Remittance
Service, superseding any prior or contemporaneous agreements, communications,
and proposals, whether oral or written, between you and us (including, but not
limited to, any prior versions of the Terms).
Your use of our Remittance Services or our Site or App and these Terms are governed by the laws of Victoria Australia. You irrevocably and unconditionally submit to the exclusive jurisdiction of the courts operating in Victoria Australia and any courts entitled to hear appeals from those courts and waive any right to object to proceedings being brought in those courts.
Our Site or App may be accessed throughout Australia and overseas. We make no representation that our Site complies with the laws (including intellectual property laws) of any country outside Australia. If you access our Site from outside Australia, you do so at your own risk and are responsible for complying with the laws of the jurisdiction where you access our Site.
For any questions and notices, please contact us at:
Email: [email protected]
Last update: [28-05-2023]