FAQ


Q1. What are the different modes through which I can transfer money through you?

Ans. Through bank to bank funds transfer (TT), SWIFT, door to door payment in cash/ cheque and through mail transfer where the draft is printed in the beneficiary's country and delivered as per the remitter's instructions.

Q2. Do I have to come physically to your branch to carry out any foreign exchange transaction?

Ans. Yes, you need to come physically for exchange of foreign currencies.

Q3. Can I open a bank account in my home country through your company?

Ans. We provide all assistance you need in opening a bank account in your home country only especially in India. Account opening forms of our correspondent banks are available at our customer care counters of our branches (link to branch list). Our staff will guide you through the procedures and documentation requirements.

Q4. Can I get cash advance against credit cards?

Ans. Yes, We give cash against major credit cards.

Q5. Can I receive money in the UAE from overseas?

Ans. We have arrangements with Western Union and Instant Cash to both send and receive money in minutes, through its over 100,000 agent locations in over 180 Countries. You can receive money only with valid ID. The remitter should approach the nearest Western Union and Instant Cash Agent located in his country. Our branches (link to branch list) can provide the full details.

Q6. Is it possible to send money to any country through your exchange?

Ans. Yes, LM Exchange offers world-wide remittance services, barring a few countries which may have legal or political limitations.

Q7. What are the different ways of sending money through you?

Ans.

a. LM Exchange offers mulitple modes to suit your need and convenience. Following are some details on the various modes available:

b. Bank-to-Bank Transfer: Money can be directly credited to your/your beneficiary's account within 24 to 48 hrs.

c. Instant Cash Payouts: Options such as Western Union, Instant Cash are available where money can be delivered in cash swiftly to your beneficiary in most parts of the world.

d. Door-to-Door Service: In some countries, provisions are available to deliver cash or instrument or advice to your beneficiary's door

e. For more details, contact our nearest branch (link to branch list).

Q 08. How do I lodge a complaint?

Ans.

a. It is our endeavor to serve you to the best of our ability. Despite that, if you have any complaint, please Complete the feedback form available in our branches.

b. Call our hotline no. +971 4 3554555

c. Send an email at customercare@lm-exchange.com.

Q09. What are the ID Cards you accept at your counter?

Following are the list of IDs accepted at our counter (Please produce the originals)

a.Primary Identification:

    1. Passport
    2. Labor Card
    3. UAE Driving License

b. Secondary Identification

    1.UAE Department of Defense (Staff ID)
    2. UAE Ministries (Staff ID)
    3. Local Emirate Municipality (Staff ID)
    4. Local Police Department (Staff ID)
    5. ID issued by Public Sector Undertakings
    6. Jebel Ali Free Zone Authority
    7. Your Duty Free Shop (Staff ID)
    8.Seaman port authority ID Document with photo.

c.Private companies, clinics, hospitals, or equivalent ID documents are not acceptable.

Q10. Why do your branches insist for original ID Cards for putting through the transactions?

Ans. The Central Bank of the UAE requires us to obtain ID cards from all customers when the value of the transaction is AED 2,000 and above and to obtain documents for source of funds, when the value of transaction is AED 40,000 and above.

10. Does your company deal with corporate customers?

Ans. Yes, we do deal with corporate customers through our specialized Corporate Business Department.