Don't rely on UAE Exchange if you are transferring big amount.
I am not satisfied with the way the online transfer of my transaction happened through “UAE exchange”.
To give you the whole idea of current scenario, let me explain you everything :
On 6th Oct around 1000 AM (GMT) I transferred 7500 28 GBP amount to Barclays Bank Account mentioned in UAE Guidelines, from my HSBC account, after the document verification was over from UAE Exchange. I spoke to UAE Exchange Southall Branch officer immediately after transferring the amount and dropped an email to manager as per the guidelines.
As per the Faster Payment scheme, amount must have been credited to their Barclays account within 2 hours.
Around 7PM IST same day I called at UAE Exchange and I was told that those people were waiting for the confirmation from theirHead Office and confirmed me that i will get 74.70 rate.
7th October morning (IST) when I came to my office, I received an email from UAE Exchange (6th October 6PM (GMT)) saying that they could not process the transaction since the amount was not credited to their corporate account (Barclays Bank Account mentioned in Guideline)
To confirm the same I called HSBC customer Care and gave all my transaction details to them. According to them, the money was credited within 2 hours to their account.
To add to my fury, when I spoke to Mr. Abraham from their Head Office Branch, he said he received money now when i called him on 7th October morning 1000 GMT and he can’t do anything in this regard and i will have to bear the loss of 100 GBP which was happening due to exchange rate fluctuation on 7th October.
Not only he spoke to me rashly, he said we can't do anything just speak to Southall Branch people where i opened my customer account. When I spoke to Branch people they said it’s not in their hands they can’t give me the rate which they promised.
They promised me 74.70 on 6th October and they were giving me 73.40 on 7th Oct which meant a huge loss to me along with all this tension of not getting money on time. I needed that money urgently and matter was getting more worse. I was making phone calls to UAE Exchange like anything speaking to their Branch Officers and Managers and Head Office Managers and escalating the matter through email as well.
Advised by one of Branch Officer, i dropped another mail to the manager of Southall Branch to atleast give me better rate and waive off the 28 GBP transactional charge for the problem/loss which i was facing. I explained everything in that mail. And as expected i did not get any reply from them, i had to call at the Branch again to enquire about the status.
Now to add my fury they say that they can't do anything apart from giving me rate of 73.70 and after lot of fight they agreed to waive off only 8 pounds i.e. I am getting 7500 8 GBP at rate of 73.70 that too after lot of heated arguments, mails, phone calls, mental harrasment, inconvenience.
These people are nothing but cheaters, when i confirmed from the HSBC BAnk and tehy are assuring that money was credited into their acocount in two hours still UAE Exchange people are making false statements. What the heck is their problem god knows. I would say dont rely on them if you transferring big amount.
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