Q).How can I contact City Exchange branch?
We have 18 branches spread across 5 emirates of UAE. You will find Location and contact details of branches in our website.
Q).What all are the documents required for transacting through your exchange?
You are required to provide a valid Emirates ID for doing transactions as part of KYC requirements. However, original passport is enough for exchange of currencies for those who are on visit VISA.
Q).Are there any restrictions in sending high value transactions?
No. However, you are required to produce source of income if the value of remittance is AED40,000/ or more.
Q).Can I issue a cheque instead of cash for making remittance?
Yes. One can pay the money for remittance by way of cash or cheque over the counter for making remittance.
Q).Do you have online remittance facility?
At present we do not have direct online remittance facility. However, you can transfer fund to us online instead of paying by cash or cheque and submit your request for remittance through our website. For further details please contact email@example.com
Q).Can I send money to any country through City Exchange?
Yes, City Exchange offers world-wide remittance services barring a few countries which have restrictions on
account of legal or political issues.
Q).How fast money sent will reach the beneficiary?
Transfer to Bank Account-
To India: Same day to 3 working day depending upon the value date chosen.
Others: 1 to 3 working days in countries where your beneficiary bank is a member of the well-established
automated payment system.
Cash Payout- Money can be withdrawn within hours through outlets authorized for Western Union and Instant Cash
For Demand Draft (Only in USD payable in India)– 3 to 5 working days, subject to the demand draft couriered by us
reaching the beneficiary bank and the payee bank within normal time.
Q).Can I get better rate if I opt for delayed credit for remittance to India?
City Exchange offers options for customers to choose value date for credit up to 3 working days with commensurate
benefits in exchange rates
Q).What are the different ways of sending money through you?
City Exchange offers multiple modes of transfer facility to suite your needs
• Demand Draft: Instrument can be delivered to sender or to beneficiary bank address or to beneficiary home address. At present it is available in US Dollar payable in India for opening FCNR Deposits
• Bank-to-Bank Transfer: Money can be directly credited to your/your beneficiary's account.
• 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.
For more details, contact our nearest branch.
Q).Whether the exchange rates for remittance will be constant throughout the day?
No. The rates are subject to market fluctuations affecting each currency.
Q).Can I get instant credit to bank accounts in India?
Yes, city exchange offers flash credit to all major bank accounts in India without any additional remittance charges
Q).How can I know status of my remittance transaction?
SMS facility has been provided to update you with the status of your transaction. You may also use the link provided in the web site to track your remittance
Q).What is Wages Protection System?
Wages Protection System (WPS) is an initiative, by the UAE Ministry of Labour in association with UAE Central Bank, to the streamline salary disbursal process across the UAE.
Q).Can the employer choose any service provider for availing WPS facility?
The employer can choose only authorised WPS agents like exchange houses, banks etc., approved by Central Bank of UAE and Ministry of Labour, to avail the WPS facility
Q).What is the procedure followed for registering a new Company in Super Pay for Wages Protection System compliance?
Employer can walk in to any of our branches and submit valid documents like Trade License, MOL Card and Authorised Signatory’s Passport copy for easy registration for WPS processing through our exchange. An employer can also request for a visit through email/phone/or web portal and team will assist in the finishing the formalities of registration
Q).How fast can I get my company’s salary processed?
Salary will be processed and made available for disbursal within same day if the payment is given by cash across the counter or transfer to our account online by afternoon. In case of payment through Cheque, salary can be disbursed by morning after the next bank working day. For further details please contact your nearest branch or us using the link given in the web page.
Q).How do my employees collect their salaries?
In UAE there are three modes of salary disbursal
1) Employee collecting salary in cash can avail salaries from any of our branches.
2) Employees have an option for applying for City Pay ATM-cum-Debit Card with which they can withdraw salary from any bank ATM's across UAE.
3) Those who are having bank accounts, salary shall be credited directly to the bank account.
Q).Can I Exchange currencies across the counter in all branches?
Yes, all major currencies are exchanged in all our branches.
Q).Can I change large volume of currency in UAE?
There is no restriction on inward or outward movement of currency in UAE and therefore no limit is fixed for exchange of currencies. However, you need to provide Declaration Regarding Import of Currency (DRIC) duly certified by the customs authority in case the exchange exceeds AED100,000/-
Q).What all are the documents I need to carry for changing currencies?
If you are an existing customer, no additional document needs to be provided other than DRIC as the case may be. In the case of travelers on visit visa, original passport needs to be shown at the counter.