-
Company Information
Sydney Forex Pty Ltd (“Sydney Forex”, “SFPL”, “we”, “our”) is an Australian company (ABN 15 111 743 750) located at Suite 13–14, 168 Haldon Street, Lakemba NSW 2195.
SFPL operates in accordance with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) and other applicable Australian laws and regulations.
-
Definitions
In these Terms:
- “Instruction” means a request submitted by the Sender to SFPL to process a money transfer, including all transaction details provided.
- “Sender” means the person initiating the transaction
- “Recipient” means the person receiving the funds
-
Overview of the Service
SFPL provides money transfer services enabling customers (“Sender”) to send funds from Australia to a beneficiary (“Recipient”), primarily in Pakistan.
Transfers are strictly person-to-person unless otherwise approved.
Funds may be delivered via:
- Bank deposit
- Cash pickup through partner institutions
-
Contract Formation
A transaction submitted by the Sender constitutes an offer to use SFPL’s services.
SFPL may accept or decline any transaction at its sole discretion without providing reasons, subject to applicable laws.
A contract is formed only once SFPL confirms acceptance of the transaction, and SFPL is under no obligation to process any transaction until such confirmation is provided.
-
Registration, Identity Verification & Consent
To use the Service, you must:
- Complete registration
- Provide valid identification (100-point check)
- Provide selfie/biometric verification if required
By using the Service, you:
- Consent to identity verification via government and third-party systems (including DVS, fraud prevention, and verification providers)
- Consent to the collection, use, storage, and disclosure of your personal information in accordance with SFPL’s Privacy Policy
- Acknowledge that your data may be shared with regulators, financial institutions, and overseas partners (including Pakistan)
- Confirm all information is accurate, complete, and lawful
-
Transaction Processing
Transactions are processed only after:
- Cleared funds are received
- Identity verification is completed
Processing may be delayed due to:
- AML/CTF compliance checks
- Additional verification
- Banking delays, weekends, or public holidays
- Events beyond SFPL’s control
-
Transaction Limits
SFPL may impose limits on transaction amounts based on regulatory, operational, or risk considerations.
-
Exchange Rates
Exchange rates are indicative and subject to change without notice.
The applicable exchange rate will be the rate at the time the transaction is created by the Sender, unless otherwise agreed in advance with SFPL.
Any rate quoted or agreed at the time of transaction creation will only be honoured subject to receipt of cleared funds immediately or within the timeframe specified or agreed in advance by SFPL.
SFPL reserves the right, at its sole discretion, to apply the prevailing exchange rate or cancel the transaction where:
- Funds are not received within the required timeframe
- There are delays in payment or processing
- Additional verification or compliance checks are required
- The transaction cannot be completed due to regulatory, operational, or risk-related reasons
Any difference between the exchange rate offered to the Sender and the rate obtained by SFPL from its partners may be retained by SFPL.
-
Fees and Charges
- Transfers above AUD 300: No service fee (unless promotional terms apply)
- Transfers below AUD 300: AUD 5 fee
Additional charges may apply:
- Amendment (customer error): AUD 15
- Cancellation / refund administration: AUD 75
- Exchange rate differences
- Correspondent or third-party charges
All fees and charges are subject to change and are outlined in SFPL’s applicable policies.
-
Payment Authorisation
By initiating a transaction, you authorise SFPL to receive, debit, and process funds from your nominated account, including applicable fees and charges.
-
Sender Responsibilities
The Sender is responsible for:
- Providing accurate beneficiary details (including IBAN/account details)
- Verifying recipient identity
- Ensuring lawful purpose of funds
SFPL relies entirely on the information provided and is not responsible for verifying beneficiary ownership beyond regulatory requirements.
SFPL reserves the right to recover from the Sender any costs, charges, penalties, or losses incurred due to incorrect, incomplete, or misleading information provided.
-
Refunds and Cancellations
12.1. No Obligation to Refund
SFPL is under no obligation to cancel or refund a transaction once initiated, particularly where funds have been processed, paid to a third party, or are subject to compliance or regulatory requirements.
12.2. Unpaid Transactions (45 Days)
If a transaction remains unpaid for 45 days, the Sender may request a refund in writing.
Refunds will be subject to:
- AUD 75 administration fee
- Exchange rate differences
- Correspondent charges
Refund will only be processed once funds are received back by SFPL.
12.3. Cancellation (Change of Mind)
- AUD 75 cancellation fee applies
- Exchange rate differences apply
- Third-party charges may be deducted
Refunds may take up to 8–10 weeks.
12.4. Refund Currency
Refunds will be made in Australian Dollars (AUD). Where foreign exchange applies, conversion will be based on the rate at the time of refund processing.
12.5. Bank-Initiated Refunds or Recalls
Where a Sender initiates a refund or recall request through their bank or financial institution, the Sender must notify SFPL immediately.
SFPL may, at its discretion, require the Sender to pursue the refund directly through their bank as the primary method of recovery.
Where a bank-initiated recall or refund is in progress, SFPL will not process any separate refund request to avoid duplication.
The Sender agrees that SFPL shall not be liable for any delays, reversals, or actions taken by the bank or financial institution in relation to such recall or refund.
Payments must be made from the Sender’s own personal account. SFPL may refuse or delay transactions where funds are received from third-party or business accounts.
SFPL reserves the right to recover any costs, charges, or losses incurred as a result of duplicate claims, chargebacks, or bank-initiated reversals.
12.6. Refund Procedure
Refunds are subject to SFPL’s Refund Policy, which outlines the applicable process, documentation requirements, and timeframes.
Customers may be required to submit a refund request using SFPL’s prescribed form and provide supporting documentation.
Refund processing timeframes may vary depending on overseas correspondent processing and are detailed in the Refund Policy.
-
Uncollected Funds
If funds remain uncollected for 12 months:
- Administrative charges may apply
- Funds may be transferred under unclaimed money laws
-
AML/CTF Compliance
SFPL may:
- Request additional information
- Delay, block, or refuse transactions
- Monitor accounts and activity
- Report to AUSTRAC
SFPL may be legally prohibited from disclosing reasons.
-
Right to Refuse or Delay Transactions
SFPL reserves the right, at its sole discretion, to refuse, suspend, delay, or limit any transaction without notice, including where:
- Transaction limits are exceeded
- Payment cannot be processed
- Information is incomplete or incorrect
- Identity cannot be verified
- Suspicion of fraud or illegality exists
- Required by law or internal policy
-
Privacy and Data Handling
SFPL handles personal information in accordance with its Privacy Policy.
- Data may be shared with regulators, banks, and overseas partners
- Data may be transferred internationally
- Records are retained for at least 7 years
-
Liability
SFPL shall not be liable where funds are paid in accordance with the details provided by the Sender, including where SFPL reasonably believes the recipient to be the intended beneficiary.
SFPL is not liable for:
- Delays beyond its control
- Errors in customer-provided information
- Actions of third-party banks or institutions
- Indirect or consequential losses
SFPL’s responsibility ends once funds are paid to the Recipient or credited to the nominated account.
Nothing in these Terms excludes rights under Australian Consumer Law.
-
No Warranty
SFPL makes no warranties, express or implied, including availability, accuracy, or fitness for purpose.
-
Claims and Time Limits
- Issues must be reported within 30 days
- Claims may be barred after 12 months
-
Complaints
SFPL maintains an internal complaints process and aims to resolve matters promptly.
-
Suspension or Termination
SFPL may, at its sole discretion, temporarily or permanently suspend, restrict, or terminate a customer’s profile or account without prior notice where:
- False, misleading, or inconsistent information is provided
- The customer is uncooperative or unwilling to provide requested information or documentation
- The customer is reluctant to provide information required for verification or compliance purposes
- There is any attempt to conceal, withhold, or misrepresent material information
- Any documents appear to be altered, forged, tampered with, or otherwise unreliable
- Aggressive, abusive, threatening, or inappropriate behaviour is directed towards SFPL staff
- Suspicious, fraudulent, or potentially unlawful activity is identified
- Compliance or verification requirements are not met
- Multiple or duplicate accounts are identified
- Required by law, regulator, or internal risk policies
- SFPL determines that the customer relationship is no longer appropriate from a risk or conduct perspective
SFPL may be legally prohibited from disclosing the reason for such actions.
-
Indemnity
You agree to indemnify and hold harmless SFPL from any losses, claims, damages, or expenses arising from:
- Use of the Service
- Breach of these Terms
- Provision of incorrect, incomplete, or misleading information
- Failure to safeguard account access or credentials
- Any unlawful or fraudulent activity associated with the account
-
Service Availability
Services may not be available in all locations or at all times.
-
Changes to Terms
SFPL may update these Terms at any time.
-
Assignment
SFPL may assign or transfer its rights and obligations under these Terms to another entity without affecting your rights.
-
Severability
If any provision of these Terms is found to be invalid, unlawful, or unenforceable, the remaining provisions shall remain valid and enforceable.
-
Governing Law
These Terms are governed by the laws of New South Wales, Australia.