These Terms and Conditions (“Terms”) govern the use of the money transfer services (“Services”) provided by R U B Enterprises LTD , trading as R U B Exchange (“we”, “us”, “our”).
By accessing our website, visiting our premises, or using our Services, you confirm that you have read, understood, and agree to be bound by these Terms. If you do not agree, you must not use our Services.
1. About Us
1.1 R U B Enterprises LTD is a company registered in England and Wales (Company No. 06499465) with its registered office at 174 Cricklewood Broadway, London, NW2 3EB.
1.2 We are registered with the Financial Conduct Authority as a Small Payment Institution under the Payment Services Regulations 2017 (Firm Reference Number: 510125).
1.3 We are registered with HM Revenue & Customs as a Money Service Business under the Money Laundering Regulations 2017 (Registration No: XSML00000122087).
1.4 We provide international money remittance and payment services.
2. Scope of Services
2.1 We provide domestic and international money transfer services.
2.2 We act solely as a payment service provider and do not provide banking, investment, or deposit-taking services.
3. Definitions
- “Service” means any money transfer or payment service provided by us.
- “Sender” means the person who initiates a transfer.
- “Recipient” means the person who receives funds.
- “Fees” means service charges, exchange rate margins and any other costs disclosed before you confirm a transaction.
- “Business Day” means Monday to Friday, excluding UK public holidays.
4. Eligibility
4.1. To use our Services, you must:
- Be at least 18 years.
- Have legal capacity to enter into a contract.
- Provide accurate and complete information.
- Not act on behalf of any sanctioned individual or entity
4.2. We may refuse any transaction where required by law or regulation.
5. Your Responsibilities
- To provide accurate Sender and Recipient details.
- To use the Services only for lawful purposes.
- Not to use the Services for money laundering, fraud, terrorist financing or any other illegal activity.
- To notify us immediately if you believe a transaction has been made in error or without your authorisation.
6. Regulatory & Compliance Checks
6.1. We are required by law to conduct identity verification, AML and fraud prevention checks.
6.2. We may:
- Request additional information or documentation.
- Delay, suspend or cancel a transaction where required.
- Report transactions to relevant authorities where legally required.
6.3. We are not liable for delays caused by regulatory checks.
7. How a Contract Is Formed
7.1. A contract is formed once:
- You submit a transfer request; and
- We confirm acceptance of the transaction.
7.2. We may decline any transaction at our discretion where permitted by law.
8. Fees and Exchange Rates
8.1. Fees and exchange rates will be clearly displayed before you confirm a transaction.
8.2. Exchange rates may include a margin in addition to our service fee.
8.3. The exchange rate and fees become binding once you confirm the transaction.
8.4. Exchange rates may fluctuate based on market conditions.
8.5. Once accepted, the agreed fee and exchange rate will apply to that transaction.
9. Execution of Transfers
9.1. Transfers are processed once we receive cleared funds and all required information.
9.2 Payment transactions will be executed no later than the end of the next Business Day following receipt, unless otherwise agreed.
9.3. Delivery times depend on destination country, payout method, banking partners and regulatory checks.
9.4. We do not guarantee same-day or instant delivery.
9.5 We execute payment transactions based on the recipient details you provide (including name and any agreed collection reference or identification information). If the recipient details provided by you are incorrect, we are not liable for misexecution, although we will make reasonable efforts to recover the funds where possible.
10. Cancellations & Refunds
10.1. You may request cancellation before funds are paid out.
10.2. If the transfer has already been completed or paid out, cancellation may not be possible.
10.3. Approved refunds will:
- Be returned using the original payment method where possible.
- Exclude any non-refundable fees.
- Be subject to deductions charged by banks or intermediaries.
11. Unauthorised or Incorrectly Executed Transactions
11.1 You must notify us without undue delay if you become aware of any unauthorised or incorrectly executed transaction. In any event, you must notify us no later than 13 months from the date you made the payment to us.
11.2 Where a transaction was not authorised by you, we will refund the amount of the unauthorised transaction promptly and, in any event, no later than the end of the next Business Day after becoming aware of it.
11.3 We may refuse a refund where we have reasonable grounds to suspect fraud and will notify the appropriate authorities where required by law.
11.4 Where we are responsible for an incorrectly executed transaction, we will refund the amount of
12.1 We are liable for the correct execution of payment transactions in accordance with the Payment Services Regulations 2017.
12.2. Our liability for correctly authorised transactions is limited to the amount of the transaction and applicable fees.
12.3. We are not liable for:
- Delays caused by third-party banks or intermediaries.
- Force majeure events.
- Losses arising from inaccurate information provided by you
12.4 Nothing in these Terms limits:
- Your statutory rights under the Payment Services Regulations 2017
- Liability for death or personal injury caused by negligence
- Liability for fraud
13. Data Protection
13.1 We collect and process personal data in accordance with UK GDPR and the Data Protection Act 2018.
13.2 Personal data may be shared with:
- Regulatory bodies;
- Law enforcement agencies;
- Correspondent agents and banks as required for transaction processing.
13.3 Our use of personal data is governed by our Privacy Policy.
14. Complaints
14.1 We are committed to providing a high standard of service. If you are dissatisfied with our Services, you have the right to make a complaint.
14.2. Complaints should be submitted to:
Email: complaints@rubexchange.co.uk
Phone: 020 8452 9189
Address: 174 Cricklewood Broadway, Cricklewood, London NW2 3EB
14.3 We will investigate and provide a final response within 15 business days of receiving your complaint.
14.4 In exceptional circumstances, we may extend this to 35 business days, and we will inform you if this occurs.
14.5 If you are not satisfied with our final response, you may refer your complaint to the Financial Ombudsman Service within six months of our final response.
Financial Ombudsman Service
Exchange Tower
London E14 9SR
Website: www.financial-ombudsman.org.uk
15. Intellectual Property
16. Changes to These Terms
We may update these Terms from time to time. Updated versions will be published on our website and apply from the stated effective date.
17. Governing Law
18. Contact Details
Registered Address: 174 Cricklewood Broadway, Cricklewood, London NW2 3EB, United Kingdom
Email: info@rubexchange.co.uk
Phone: 020 8452 9189