International Payments Price Promise Terms and Conditions
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The exchange rates of major banks and key competitors are regularly checked to ensure you get the best overall price on your money transfer quote – that’s the International Payments Price Promise.
The Travelex International Payments service is committed to beating the best possible overall price in the UK on your international money transfer quote. This service will not be undersold on our internationalpayments.travelex.co.uk site or over the phone service that supports the Travelex International Payments service. If you find a better price offered by another provider please contact Travelex International Payments with the relevant evidence (as outlined below) and Travelex International Payments will guarantee to beat that price providing you tell us before you book a deal (otherwise it is too late).
The International Payments Price Promise Terms and Conditions
- Our commitment only applies to prices offered by "Travelex International Payments". This means services offered exclusively by Travelex over the internet on our internationalpayments.travelex.co.uk site or over the phone to the phone service that supports Travelex International Payments and not services that we offer in conjunction with any of our partner companies.
- Our commitment only applies to the currencies listed as ‘Supported Currencies’ on the "Business Day"you obtained a quote for a transfer from us (either online or over the phone). A "Business Day" is deemed to run for 24 hours from 10.00 a.m. until 9.59 a.m. inclusive. This commitment is subject to you complying with our Online Terms and Conditions and is not available in conjunction with any other offer.
- Given that the Foreign Exchange markets move so quickly, our commitment only applies if you are able to demonstrate that you have obtained a quote (either online or over the phone) from another provider within 30 minutes of the quote you were provided with by us on the same "Business Day" (as defined above)
- Price comparisons will be the total prices (including commission, FX margin and fees) offered by us and the other international payments provider our price is being compared to. The prices compared must be genuine like-for-like buy rate and sell rate prices and offered to the general public and not Mid-Market Rates* or prices only available to staff, club members or other selected groups or individuals.
*For the purposes of these International Payments Price Promise Terms and Conditions, "Mid-Market Rate" means a mid-market or indicative rates shown on various foreign exchange providers’ websites which are neither actual "buy" rates nor actual "sell" rates offered by that provider but are derived from the mid-point between the buy and sell rates of large-value transactions in the global currency markets.
- The commitment relates to a bona fide total price (including commission, Fx margin and fees) offered by another money transfer provider who offers the competitive price in the ordinary course of business of offering money transfers to customers in the UK taking account of any changes to the underlying FX market rate. In order for us to be able to beat a quote provided by a another money transfer provider, quotes must be calculated on a like-for-like basis that take into account any increase or decrease to the foreign exchange market.
- Should you wish to take advantage of the International Payments Price Promise, we must first be able to verify the prices you have been offered to our reasonable satisfaction. Please provide documentary evidence of the alternative quote via the following methods: by emailing us at email@example.com.
- You will need to provide us with the following information:
- the total price you have been quoted (including commission, FX margin and fees) and confirmation of the times and dates you obtained this
- the mid-market rate used which the Fx margin has been applied to
- In order to ensure all quotes are validated on a like-for-like basis, the underlying FX market rate (which will vary from provider to provider) is required so that the ‘total price’ of a competitors quote can be calculated
- Currently, the International Payments Price Promise commitment only applies to UK customers.
- We reserve the right to, at any time, withdraw this commitment other than in respect to commitments already made at the time of the withdrawal
- This commitment is made by UKForex. Registered Office: 4th floor, Friary Court, 13-21 High Street, Guildford, Surrey, GU1 3DL. Registered in England and Wales under number 04631395
- Standard online transaction limitations will apply in respect of maximum and minimum transaction sizes. Details of transactions size limitations can be found on our website (internationalpayments.travelex.co.uk)
- Any reference to “we”, “our” or “us” refers to UKForex Limited (CN: 04631395), which is a company incorporated in England and registered office at UKForex, 2nd Floor, 48-54 Moorgate, London EC2R 6EL, United Kingdom
The International Payments Price Promise Terms and Conditions were last updated on 09 September 2012.