1. Preamble:
These terms and conditions apply to and control your access to and usage of the LM Exchange Online website or Mobile application and the services it offers. It's crucial for you to read and comprehend these terms and conditions before accepting them. They include restrictions on what we are obligated to do for you and exemptions from our liability in case you experience a loss while using our services. LM Exchange is regulated by the Central Bank of the United Arab Emirates (UAE). These terms and conditions are subject to UAE laws. If any dispute arises concerning these terms and conditions, the courts of Dubai will have exclusive jurisdiction.  
2. General Provisions:
The terms and conditions set forth herein govern all the transactions between LM Exchange, based in the United Arab Emirates (“LM Exchange” or “We” or “LME” or “LMEX”), which expression shall include its successors and assigns, and the person transacting with LM Exchange. The following Terms and Conditions govern your access to and use of our website (referred to as "the Website") and mobile phone application (referred to as "the Application"), which enable you to perform money transfers (referred to as "the Service"). You acknowledge and agree that the English language version of these Terms and Conditions is the legally applicable version for all languages. Any other versions we provide in different languages are for reference only. Any dispute or claim arising from or related to these Terms and Conditions, or their content (including non-contractual disputes or claims) will be interpreted based on the English version exclusively. It's crucial to understand that your access and use of the Service are contingent upon your acceptance of these Terms and Conditions. You can request a copy of these Terms and Conditions via email at any time. To do so, please send an email to customercare@lm-exchnage.com or download it from www.lm-exchange.com. Please be aware that these Terms and Conditions are subject to occasional changes at the sole discretion of LME.  
3. The Terms and definitions used in our Terms and Conditions:
4. Your obligations and understanding:
Upon submitting the transaction execution request the customer confirms / acknowledges the following: -  
5. Remittance Product Specific:
6. Notifications:
LME is authorized to transmit specific and timely notifications through various channels, including email, pop-up screens on your mobile device or web browser, and SMS. It is understood and agreed that these notifications may experience delays or be obstructed by factors that affect the service provider and other relevant entities. We cannot assure the precise delivery, timing, or accuracy of these notifications.  
7. Online Payment:
7.1 Payment with online banking
7.2 Payment via Debit Card
8. Transaction Limit:
8.1 Bank Transfer Limits:
8.2 Beneficiary Restrictions:
8.3 Card Transaction Limits:
8.4 New Beneficiary Limit:
9. Transaction History:
Within the scope of our digital channel services, a transaction history is accessible for viewing. However, it's important to clarify that this information is furnished solely for reference and should not be regarded as legally binding evidence of transactions. The listed transactions may not offer a comprehensive or entirely accurate account, owing to variances in the customer's profile information over the course of their association with LME. For a formal statement of transactions conducted at LME, a request should be made directly to an LM Exchange branch.  
10. Transaction Status:
10.1 Initiated:
The transaction has not yet been processed by LME. For fund transfers via the bank, we are awaiting the receipt of funds in our account to process the transaction. The "Initiated" status is temporary and may eventually become "Completed", "Rejected" or "Expired".
10.2 Payment received:
Payment received through the remittance mobile app is money received electronically via payment channels for secure cross-border transactions. This is subject to the LME's terms and conditions.
10.3 Transmitted:
Transactions have been processed by LME but do not guarantee credit or receipt by the beneficiary. To check the credit status, please inquire through the "Contact Us" page by providing the transaction reference number.
10.4 Failed Transaction:
These statuses indicate that the transaction has not been processed and will not be processed due to non-receipt of payment. or money transfer attempt initiated by a user through the mobile application that, due to various reasons, does not successfully result in the intended fund transfer to the designated recipient. This may occur due to issues such as insufficient funds, technical errors, incorrect recipient information, or other unforeseen circumstances.
10.5 Credited:
Credited Transaction through the remittance mobile app' signifies the successful receipt of funds or payment into the beneficiary's account or wallet for secure and efficient cross-border transactions. This process involves the receipt of funds, typically originating from a sender in a different location or country.  
11. Login Credentials and OTP:
LME's digital channels require a login using credentials you establish. OTP (One-Time Password) is utilized in critical areas to ensure control over access and activity. You are responsible for safeguarding the confidentiality of your login credentials and OTP. Do not share them with third parties or authorize their use for any purpose. You agree to take reasonable precautions to prevent misuse of your login credentials by third parties, including periodically changing your login credentials. If you suspect a compromise of your login credentials' confidentiality or any unauthorized use of your digital profile (e.g., unauthorized transactions or account access), or if your login credentials are disabled after multiple incorrect attempts, promptly inform LM Exchange. Visit the LM Exchange branch when you update your mobile number to avoid OTPs being sent to the new user of the mobile number.  
12. Profile deactivation:
LME reserves the right to deactivate a customer's digital channel profile without any prior notice due to delayed responses, provision of inadequate or inaccurate information, and any issues related to LME’s AML Compliance Policies and Procedures. LME will not be held responsible for any consequences arising from such deactivation. Deactivation of an online profile does not necessarily prohibit the customer from using traditional branches for future transactions. Any transactions in progress at the time of profile deactivation will be processed in accordance with the associated terms and conditions. Customers can initiate the process of deactivating their profile by visiting any LM Exchange branch and submitting a formal request.  
13. Security and Usage Guidelines:
You are responsible for maintaining and keeping your software, hardware, and equipment up to date to access and use LME services via digital channels. It is your duty to ensure that the computers or mobile devices you use for accessing LME digital channels are free from malware, viruses, trojans, or any other computer or internet contaminants. LME may update, change, or upgrade its software, hardware, and operating systems. There is no obligation on our part to support your software, hardware, or operating systems. Any issues related to compatibility between our service software and your devices are solely your responsibility. LME will not be liable for any losses resulting from such compatibility issues. Our digital platforms are provided "as is" without any warranties. We disclaim all warranties to the fullest extent permissible under applicable laws, including warranties of merchantability, fitness for a particular purpose, non-infringement, accuracy, freedom from errors, suitability of content, or availability.  
14. Prohibited Activities:
You agree not to engage in the following activities:  
15. Record Maintenance:
LME will maintain transaction records, KYC information, and customer feedback or complaints as required by law and regulations. The retention period for these records will be determined by LME, in accordance with statutory regulations or our internal policies. You agree not to contest or dispute the admissibility, reliability, accuracy, or authenticity of these records solely because they are in electronic form or generated by a computer system. You hereby waive any rights to object.  
16. Data Privacy:
LME highly values client privacy and data protection, considering it a crucial aspect of the services provided. You acknowledge that any information or instructions shared by you will be subject to the LME Privacy Policy. You hereby grant consent for LME to collect, use, disclose, and process information in line with the LME Privacy Policy and these Terms and Conditions. By accepting the terms and conditions of LME, you confirm your consent to LME for recording and processing your personal data for the following purposes:  
17. Intellectual Property Rights:
The design of LME Services, which includes all text, scripts, graphics, interactive features, and similar elements provided in connection with the Services as well as the trademarks, service marks, and logos found in the LME Services, are either owned by LME or licensed to LME, and are subject to copyright and other intellectual property rights laws. Any software used by LME to deliver the Services is the exclusive property of LME, and the limited license granted to you for using the Marks and LME Content does not extend to the software employed by LME. You are prohibited from attempting to circumvent or bypass technological protection measures, disassembling, decompiling, decrypting, hacking, emulating, exploiting, or reverse engineering any software or any other component of the LME application, LME Site, or LME Content accessible through the Services. Your use of the Services in any unauthorized manner that could disrupt another person's use of them is also not allowed. Subject to these Terms, you are provided with a personal, non-exclusive, non-transferable, revocable, limited license to install and use, exclusively in connection with the Services, the Marks, and LME Content for personal purposes while using the Services. The Services, including LME Content, are provided "as is" for your informational and personal use. LME retains all rights not explicitly granted in connection with the Service and LME Content. Furthermore, you acknowledge and consent to the fact that any content submitted, received, displayed, or advertised within the Services may contain the intellectual property rights of others. You expressly agree not to, directly or indirectly, take any action that could harm the intellectual property rights of others. You also commit to not using the LME Content in a manner that would infringe or violate the rights of any third party, and you recognize that LME is not in any way responsible for such use on your part. You acknowledge that LME, its affiliates, and its providers are the rightful owners of LME's intellectual property rights. Without our prior written consent, no portion of LM Exchange's digital channels may be reproduced, distributed, republished, displayed, broadcast, hyperlinked, transmitted, adapted, modified to create derivative works, or commercially exploited in any manner or by any means. Furthermore, it should not be stored in an information retrieval system.  
18. Variation in Terms and Conditions:
LME reserves the right to modify these Terms and Conditions, and such changes will be communicated through digital channels or other designated notification methods, which may include email. These variations will become effective on the date specified by us. If you continue to use LME's digital channels, including any new services, after the effective date, you are considered to have accepted these variations, and the revised Terms and Conditions will be binding on you. If you do not agree with the changes, you must cease using LME's digital channels. LME can modify these Terms and Conditions as stated without the consent of any party not directly involved in these Terms and Conditions.  
19. Illegitimacy:
If any provision of these Terms and Conditions becomes illegal, invalid, or unenforceable, the legality, validity, and enforceability of the remaining provisions will not be affected, and they will continue in force as if the problematic provision has been removed. Waiver of any covenant or breach by you will not be deemed as a waiver of subsequent breaches or any other covenants. Our rights and remedies are cumulative and not exclusive, as provided by law.  
20. Communications from LM Exchange:
You grant LME permission to send promotional messages via SMS, email, or phone notifications from time to time. LME may also contact you via email, SMS, or through the LME App regarding your app access and usage or updates on related services. Additional information and documents may be requested by LME as per their internal policies for continued system access or to process specific transactions.  
21. Communications through Electronic Means:
Electronic delivery can take the form of email, an email attachment, or a downloadable document from digital channels. LME will be considered to have fulfilled its obligation to deliver documents if they are sent electronically. If there are issues opening a document delivered electronically, you must notify us within Forty-eight (48) hours after delivery. Failure to do so will be considered an acceptance of the document. Alerts sent via SMS will be directed to the registered mobile number only. All communications from LME will be in English and will be sent via email to the address on record, electronic services, mobile, or other electronic media. In certain cases, LME may also use press releases, radio, television, internet, or other media at its discretion. Any communication from LME to you will be considered received and complete:  
22. Warranty Disclaimer:
Your use of the Services is entirely at your own risk, and the Services are provided "as available". To the fullest extent permitted by law, LME, its affiliates, subsidiaries, officers, directors, employees, representatives, and agents disclaim all warranties, whether express or implied, in connection with the Services and your use of them. LME does not make any warranties or representations regarding the accuracy or completeness of the Services' content and assumes no liability for:  
23. Cancellation and Termination:
You have the option to discontinue using the Services at any time. You can cancel them at your discretion, with or without cause. The cancellation will take effect at the end of the subscription period. If LME determines that you have violated any of the Terms or the Privacy Policy, LME has the right to immediately cease providing the Services to you and may also block your access to your account or subscription. In the process of investigating any potential violations, LME may access Your Content (as defined in the Privacy Policy) for the purpose of the investigation and may block any transmission that goes against the Terms and the Privacy Policy.