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UAE Exchange, SouthAll Branchmoney transfer issue - they are cheaters

S

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, 2009 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, 2009 morning (IST) when I came to my office, I received an email from UAE Exchange (6th October, 2009 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, 2009 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.

Responses

  • Mu
    munishsehgal Oct 07, 2009

    Yes, I fully agree with the above mentioned scenario. It does happen at times when you transfer money through UAE Exchange.

    4 Votes
  • Sh
    Shipra Oct 07, 2009

    Hey frenz juist checked my email again .. on 6th they promised 74.80 to me not 74.70 .. :(

    4 Votes
  • Ja
    Jai_Sharma Oct 07, 2009

    i truly agree as they make all false promises..please beware of UAE EXCHANGE

    3 Votes
  • Af
    Aftab_02 Oct 07, 2009

    Even I faced a similar problem. BIG LIARS...

    3 Votes
  • Ra
    RahulG Oct 07, 2009

    This is really very bad on the part of UAE Exchange, this is really unexpceptable behaviour. They are just trying to mint money by unfair and unethical means. After reading this I feel that they are using various means of duping people and robbing their money.

    2 Votes
  • Ak
    Akshay Tyagi Oct 07, 2009

    This is theft...please do NOT make transactions using UAE EXCHANGE..

    2 Votes
  • Pa
    palakm Oct 08, 2009

    I truly agree on same

    1 Votes
  • Al
    Alok1983 Oct 08, 2009

    They are just lying.. If HSBC confirmed that they had transferrd the money within 2 hours..then they are definitely lying. Action must be taken against them and people shold not transact using UAE exchange.

    1 Votes
  • Cp
    cPiyush Oct 08, 2009

    On 6th Oct the row conversion rate was 76.63 [Median price = 75.83935 / 76.63183 (bid/ask)], what they told you is 74.70 .. a straight 2 ruppes as their conversion charges... It is too expensive.. !

    1 Votes
  • Ex
    Eximphalian Jan 13, 2010

    Mistakes do happen from any organisation. I am dealing with UAE Exchange since 20 years. I have seen their India, Middle East and UK operation and believe you me friends, they are the best. Staff is very co-operative and helpful. They do not send illegal people's money and do not make fraud transfers, so many people do not like them. But in todays world I will prefer to be with some one who is strict and follows rules rather than sending money helter skelter like hawala guys. For an individuals mistake one should not blame the entire organisation. I have my sympathies for Shipra, but may be in long run you will admit that what I am sayin is correct.

    0 Votes
  • Jk
    JKumar Oct 04, 2010
    This comment was posted by
    a verified customer
    Verified customer

    Sir/Madam
    Dtd 2/10/2010 i used to send Uae exchange xpress money to india for my wife at emergency situation. Dtd 04/10/2010 my wife went to the branch which is located at Puliangudi (br) Tirunelveli (dst)Muthoot finanace Ltd- Tamilnadu. They said come on evening 3'O clock, Morning time we can't pay. So that my wife return to my home nearest village around 6 km. At the same time i spoke with Mr.Rajesh who is dhaid UAE Exchange branch of the manager said we will care about this issue and he got my home Phone no and he said they will call your home.. Please note that till now no one else call to my home and after 3 o clock my wife again went to the branch she got a result same?????
    1. I want to know the Reason?
    2..I send Xpress money it means instant cash
    3. 6 years 4 months i used to send money at UAE Exchange..there is no more issue exapect this...
    4. At Emergency time money will not Help 'ON TIME ' it means what is the use!!!
    Please try to understood...and give me feedback as soon as...

    Thanks& Regards
    SP.Muthu kumar
    [email protected]

    0 Votes

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