Sydney Forex Pty Ltd (SFPL) - Terms & Conditions

FOR SENDING AND RECEIVING MONEY

Sydney Forex Pty Ltd (“Sydney Forex”, “SFPL”, “we”, “our”) is an Australian company (ABN 15 111 743 750) located at Suite 13–14, 168 Haldon Street, Lakemba NSW 2195.

SFPL operates in accordance with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth), applicable AUSTRAC requirements, and other applicable Australian laws, regulations, rules, and regulatory obligations.

In these Terms:

• “Instruction” means a request submitted by the Sender to SFPL to process a money transfer, including all transaction details provided.
• “Sender” means the person initiating the transaction
• “Recipient” means the person receiving the funds

SFPL provides money transfer services enabling customers (“Sender”) to send funds from Australia to a beneficiary (“Recipient”), primarily in Pakistan.

Transfers are strictly person-to-person unless otherwise approved.

Funds may be delivered via:

• Bank deposit
• Cash pickup through partner institutions

A transaction submitted by the Sender constitutes an offer to use SFPL’s services.

SFPL may accept or decline any transaction at its sole discretion without providing reasons, subject to applicable laws.

A contract is formed only once SFPL confirms acceptance of the transaction, and SFPL is under no obligation to process any transaction until such confirmation is provided.

To use the Service, you must:

• Complete registration
• Provide valid identification (100-point check)
• Provide selfie/biometric verification if required

By using the Service, you:

• Consent to identity verification via government and third-party systems (including DVS, fraud prevention, and verification providers)
• Consent to the collection, use, storage, and disclosure of your personal information in accordance with SFPL’s Privacy Policy
• Acknowledge that your data may be shared with regulators, financial institutions, and overseas partners (including Pakistan)
• Confirm all information is accurate, complete, and lawful

SFPL operates under ongoing regulatory obligations and may require updated information or documentation at any time to verify customer identity, source of funds, or transaction activity.

SFPL reserves the right to conduct re-verification of customer information periodically, including where there is a change in customer profile, risk assessment, or after periods of inactivity.

In some circumstances, SFPL may request a specific identification document or updated verification material as part of its internal risk-based review and regulatory obligations.

Customers acknowledge and agree that reviewing, updating, verifying, and where necessary re-verifying customer information is an ongoing requirement throughout the customer relationship. SFPL may periodically review, update, verify, and re-verify customer identification, residential address, contact details, customer profile information, source of funds, source of wealth, transaction activity, and other customer information as part of its legal, regulatory, compliance, fraud prevention, risk management, and AML/CTF obligations.

SFPL may require customers to complete updated identification, verification, or compliance checks before reactivating an inactive, restricted, suspended, closed, or voluntarily deactivated profile.

Reactivation of any account or profile is subject to internal review and approval by SFPL's Compliance Team.

A nominal administrative fee of AUD 20.00 to AUD 30.00 may apply where a customer requests reactivation of an inactive, suspended, closed, or voluntarily deactivated profile and additional verification, compliance review, or administrative processing is required.

No fee will apply to routine verification, re-verification, or customer due diligence activities initiated by SFPL as part of its legal, regulatory, compliance, or AML/CTF obligations.

SFPL may require customers to communicate through specific channels, including their registered email address or other verified contact details.

SFPL may restrict, delay, or refuse to act on communications where necessary for security, identity verification, compliance, or operational reasons.

Customers must ensure that their contact details remain accurate, current, and accessible at all times. Failure to maintain valid contact details may result in delays, restrictions, or suspension of services.

SFPL is not obligated to respond to or act upon communications received through unverified, inconsistent, or unauthorised channels.

By using SFPL’s services, customers consent to receive communications, notices, disclosures, verification requests, and other correspondence electronically, including via email, SMS, telephone, or other electronic or digital channels used by SFPL.

Customers are responsible for ensuring that communications from SFPL, including emails, SMS messages, and verification requests, can be received and are not blocked, filtered, redirected, or inaccessible due to their contact details, device settings, software, network, or spam filtering arrangements.

Customers acknowledge that electronic communications may be used for compliance, security, operational, and service-related purposes.

SFPL may monitor or record telephone calls and communications for compliance, training, security, dispute resolution, and quality assurance purposes, subject to applicable laws.

Transactions are processed only after:

• Cleared funds are received
• Identity verification is completed

Processing may be delayed due to:

• AML/CTF compliance checks
• Additional verification
• Banking delays, weekends, or public holidays
• Events beyond SFPL’s control

Transactions will only be processed once funds are fully cleared and irrevocably received. SFPL does not rely on pending, provisional, or uncleared funds.

Under normal circumstances, most transactions are processed on the same business day or within 1–3 business days after receipt of cleared funds and completion of any required verification. However, processing times may vary depending on payment channels, correspondent institutions, recipient institutions, compliance reviews, regulatory requirements, public holidays, weekends, or other factors beyond SFPL's reasonable control.

Any timeframes provided are indicative only and may be extended where required to meet legal, regulatory, compliance, fraud prevention, or risk management obligations.

Any estimated processing, payment, or delivery timeframe provided by SFPL is indicative only and does not constitute a guarantee, warranty, or binding commitment.

SFPL may impose minimum and maximum transaction limits, daily limits, monthly limits, cumulative limits, corridor-specific limits, customer-specific limits, or other restrictions based on regulatory, compliance, operational, commercial, or risk management considerations.

Applicable limits may vary between customers, payment methods, destinations, products, services, transaction types, and risk profiles.

SFPL reserves the right to amend, apply, reduce, increase, suspend, or remove transaction limits at any time without prior notice where reasonably necessary to comply with legal, regulatory, compliance, operational, fraud prevention, or risk management requirements.

Exchange rates are indicative and subject to change without notice.

The applicable exchange rate will be the rate at the time the transaction is created by the Sender, unless otherwise agreed in advance with SFPL.

Any rate quoted or agreed at the time of transaction creation will only be honoured subject to receipt of cleared funds promptly or within the timeframe specified or otherwise agreed by SFPL.

SFPL reserves the right, at its sole discretion, to apply the prevailing exchange rate or cancel the transaction where:

• Funds are not received within the required timeframe
• There are delays in payment or processing
• Additional verification or compliance checks are required
• The transaction cannot be completed due to regulatory, operational, or risk-related reasons

Exchange rates may fluctuate between transaction creation, payment receipt, processing, cancellation, refund, reversal, or completion of the transaction.

Any difference between the exchange rate offered to the Sender and the rate obtained by SFPL from its partners may be retained by SFPL.

• Transfers above AUD 300: No service fee (unless promotional terms apply)
• Transfers below AUD 300: AUD 5 fee

Additional charges may apply:

• Amendment (customer error): AUD 15
• Cancellation / refund administration: AUD 75
• Exchange rate differences
• Correspondent or third-party charges

All fees and charges are subject to change from time to time and are outlined in SFPL's applicable policies. SFPL reserves the right, at its sole discretion, to waive, reduce, refund, or not apply any fee or charge where it considers it appropriate to do so.

By initiating a transaction, you authorise SFPL to receive, debit, and process funds from your nominated account, including applicable fees and charges.

The Sender is responsible for ensuring that all information provided to SFPL is accurate, complete, and up to date at all times.

The Sender must:

• ensure that all personal information, including residential address, phone number, email address, identification documents, citizenship, visa or immigration status, tax residency status, and other information relevant to SFPL's compliance obligations, remains accurate, complete, and current;
• notify SFPL within 7 working days of any material change to their personal information, identification documents, residential address, contact details, legal name, citizenship, visa or immigration status, tax residency, employment, source of funds, source of wealth, or other information relevant to SFPL's compliance obligations;
• promptly notify SFPL if they relocate overseas, commence residing overseas, spend an extended period outside Australia, or experience a change in circumstances that may affect their customer profile, tax residency, risk assessment, or compliance obligations

Failure to provide accurate, complete, or updated information may result in delays, rejection of transactions, restriction of services, suspension of the customer relationship, or termination of services.

The Sender must ensure that all payments are made from a bank account held in their own name and consistent with the customer profile maintained by SFPL. The Sender must also ensure that all funds used in connection with the Service are derived from lawful activities.

Where funds are received from a business, company, trust, partnership, SMSF, foreign currency (FX) account, or other non-personal account, SFPL may require additional verification, supporting documentation, evidence of authority to transact, source of funds information, source of wealth information, and information relating to ownership and beneficial ownership before processing the transaction.

SFPL may delay, reject, suspend, cancel, refund, reverse, or refuse to process a transaction where:

• funds are received from a third-party or non-personal account that is inconsistent with the Sender's profile;
• required information or documentation is not provided;
• the source of funds, source of wealth, ownership, beneficial ownership, or authority to transact cannot be satisfactorily verified; or
• SFPL is unable to satisfy its legal, regulatory, compliance, operational, or risk management obligations.

Any costs, charges, exchange rate losses, bank fees, correspondent charges, operational expenses, administrative costs, compliance costs, investigation costs, legal costs, or other losses incurred by SFPL as a result of any review, investigation, amendment, delay, cancellation, refund, recall, reversal, or reprocessing of the transaction may be recovered from the Sender.

Where reasonably practicable, SFPL will endeavour to advise the Sender of any known or estimated fees, charges, or costs before proceeding with a recall, investigation, amendment, tracing request, refund, or other customer-requested action. However, certain charges imposed by correspondent institutions, payment providers, regulators, financial institutions, or other third parties may not be known in advance and may be deducted or recovered once incurred.

A request by the Sender to cancel, refund, recall, reverse, or otherwise recover a transaction, including through a bank or financial institution, does not remove the Sender's obligation to provide information or documentation reasonably requested by SFPL for compliance, verification, risk management, fraud prevention, or regulatory purposes.

The Sender must not permit any third party to use, access, operate, or conduct transactions through their account or profile.

SFPL operates under ongoing obligations pursuant to the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 and related regulatory requirements.

The Sender must:

• cooperate with all identification and verification requests
• provide additional information or documentation when requested
• provide evidence of source of funds or source of wealth where required

SFPL may require re-verification of customer information at any time, including:

• as part of ongoing compliance monitoring
• where there is a change in customer profile or risk
• where SFPL reasonably considers that previously collected customer information may no longer be accurate, complete, current, or reliable
• after periods of inactivity, including where no transactions, account access, or customer activity have occurred for 3 months or more

SFPL may delay, restrict, or suspend services until such verification is completed. The Sender acknowledges that failure to provide information or documentation reasonably requested by SFPL may result in transactions being delayed, restricted, refused, suspended, cancelled, or the customer relationship being terminated.

The Sender is responsible for:

• providing accurate beneficiary details (including name, CNIC, date of birth, IBAN, account number, and other relevant information)
• verifying the identity of the Recipient
• ensuring the lawful purpose of the transaction
• reviewing and confirming all transaction details before submitting any instruction to SFPL

SFPL relies entirely on the information provided by the Sender and is not responsible for verifying beneficiary ownership, entitlement, eligibility, account type, or account-specific conditions beyond applicable legal or regulatory requirements.

The Sender is responsible for ensuring that the beneficiary account details provided are accurate and complete, including identifying whether the beneficiary account is a personal, commercial, business, trust, corporate, Roshan Digital Account (RDA), foreign currency (FX) account, multi-currency account, or any other specialised account type, and for ensuring that any requirements applicable to such accounts have been satisfied prior to submitting the transaction.

Where a transaction is sent to a commercial/business account, Roshan Digital Account (RDA), foreign currency (FX) account, multi-currency account, or other specialised account type, the Sender acknowledges that different exchange rates, promotional rates, fees, charges, taxes, restrictions, processing requirements, conversion rates, payment conditions, or settlement arrangements may apply. SFPL is not responsible for any reduced exchange rate, promotional rate ineligibility, additional charges, conversion losses, delays, or other consequences arising from the account type nominated by the Sender.

Where a transaction requires amendment, investigation, recall, cancellation, refund, reversal, or reprocessing due to the account type nominated by the Sender or incorrect beneficiary information, SFPL reserves the right to apply applicable fees and recover any charges imposed by correspondent banks, partner banks, payment providers, and reasonable operational or administrative costs incurred.

SFPL reserves the right to recover from the Sender any costs, charges, penalties, or losses arising from:

• incorrect, incomplete, or misleading information
• failure to comply with these obligations

Failure to comply with this clause may result in refusal to process transactions or termination of the customer relationship.

The Sender must not attempt to structure, split, or otherwise manipulate transactions to avoid regulatory thresholds, reporting requirements, or monitoring controls.

Refunds are not processed automatically and are subject to verification, reconciliation, and confirmation through banking channels to avoid duplicate, erroneous, or unauthorised payments.

SFPL is under no obligation to cancel or refund a transaction once initiated, except where required by applicable law, particularly where funds have been processed, paid to a Recipient or beneficiary, transferred to a correspondent institution or payment provider, made available for collection, credited to a nominated account, or are otherwise subject to compliance, regulatory, operational, or risk management requirements.

If a transaction remains unpaid for 45 days, the Sender may request a refund in writing.

Refunds will be subject to:

• AUD 75 administration fee
• Exchange rate differences
• Correspondent charges

Refunds will only be processed once funds are received back by SFPL.

• AUD 75 cancellation fee applies
• Exchange rate differences apply
• Third-party charges may be deducted

Refunds may take up to 8–10 weeks.

SFPL may, at its sole discretion, waive, reduce, refund, or not apply any cancellation fee, refund fee, administrative fee, or other charge where it considers it appropriate having regard to the circumstances of the transaction, operational considerations, customer circumstances, compliance requirements, or any other relevant factors.

Refunds will be made in Australian Dollars (AUD). Where foreign exchange applies, conversion will be based on the rate at the time of refund processing.

Where a Sender initiates a refund or recall request through their bank or financial institution:

• The Sender must notify SFPL immediately.
• The Sender may be required to pursue the recall through their bank as the primary process, particularly where additional verification, risk factors, or operational considerations apply.
• SFPL will not process any separate or parallel refund request where a bank recall is initiated or reasonably expected.
• SFPL is not responsible for any actions, reversals, or delays caused by the bank or financial institution.
• SFPL will not be liable for any loss arising from duplicate refund claims, chargebacks, or unauthorised bank reversals.
• SFPL reserves the right to recover any losses, costs, damages, fees, charges, exchange rate losses, operational expenses, administrative expenses, compliance costs, investigation costs, legal costs, or other expenses arising from, relating to, or connected with such actions.

Refunds are subject to SFPL’s Refund Policy, which outlines the applicable process, documentation requirements, and timeframes.

Customers may be required to submit a refund request using SFPL’s prescribed form and provide supporting documentation.

Any refund will only be paid to the Sender or to a bank account held in the Sender's name. SFPL will not process refunds to third-party accounts.

SFPL will use reasonable efforts to process refunds promptly. Refund processing timeframes may vary depending on the circumstances of the transaction, overseas correspondent processing, banking arrangements, and any compliance, verification, regulatory, or risk management requirements. Applicable refund processes and indicative timeframes are detailed in the Refund Policy.

If a Sender transfers an incorrect amount (including overpayment, error or mistaken payment), the following conditions apply:

• SFPL does not accept partial refund requests or split transactions.
• The full amount must be recalled through the Sender’s bank or refunded in full in accordance with SFPL’s Refund Policy.
• SFPL reserves the right to require the Sender to initiate a formal recall request through their bank as the primary method of recovery.
• No refund will be processed until funds are fully cleared, confirmed, and available in SFPL’s account.
• SFPL will not process any refund based solely on customer instruction without appropriate verification or banking channel confirmation.
• Once the incorrect payment is resolved, the Sender must initiate a new transaction for the correct amount.

If funds remain uncollected for 12 months:

• Administrative charges may apply
• Funds may be transferred under unclaimed money laws

SFPL applies a risk-based approach to all customers, transactions, and services.

This means the level of verification, monitoring, and controls applied may vary depending on the assessed level of risk.

SFPL may:

• request additional information or documentation
• delay, block, or refuse transactions
• monitor accounts and transaction activity on an ongoing basis
• report matters to AUSTRAC or other authorities where required

SFPL may be legally prohibited from disclosing reasons.

SFPL conducts ongoing monitoring of customer activity, transaction behaviour, and account usage to ensure consistency with the customer profile and to identify unusual or suspicious activity.

Customers acknowledge that SFPL periodically reviews, updates, verifies, and where necessary re-verifies customer information as part of its AML/CTF, compliance, fraud prevention, and risk management obligations. Requests for updated identification, address verification, customer profile information, source of funds, source of wealth, beneficial ownership, or other compliance documentation may be made from time to time based on SFPL's risk-based compliance framework and regulatory requirements.

Customers acknowledge that the nature, frequency, and extent of monitoring, verification, and customer due diligence measures may change over time based on SFPL's assessment of risk and regulatory obligations.

SFPL may collect, verify, use, retain, disclose, transmit, and receive customer, transaction, beneficiary, and other information where required to comply with applicable laws, regulatory requirements, industry standards, payment network rules, correspondent banking requirements, or anti-money laundering and counter-terrorism financing obligations, including any applicable information-sharing or travel rule requirements.

Access to SFPL services is not guaranteed and may be restricted, suspended, or terminated at any time based on compliance, risk assessment, or regulatory requirements.

SFPL reserves the right, at its sole discretion, to refuse, suspend, delay, or limit any transaction without notice, including where:

• Transaction limits are exceeded
• Payment cannot be processed
• Information is incomplete or incorrect
• Identity cannot be verified
• Suspicion of fraud or illegality exists
• Required by law, regulatory requirement, correspondent institution requirement, payment provider requirement, or internal policy.

SFPL handles personal information in accordance with its Privacy Policy.

• Personal information may be shared with regulators, financial institutions, service providers, and overseas partners where required for operational, legal, regulatory, verification, fraud prevention, or compliance purposes.
• Personal information may be transferred or disclosed internationally, including to overseas payment partners and service providers.
• Certain records may be retained for the period required under applicable laws and regulatory obligations, including the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.
• SFPL may securely delete, destroy, de-identify, minimise, or otherwise manage personal information and identity documents where retention is no longer required, permitted by law, or in accordance with internal policies and regulatory obligations.

SFPL shall not be liable where funds are paid, transferred, released, or credited in accordance with the details provided by the Sender, including where SFPL reasonably believes the Recipient to be the intended beneficiary.

SFPL is not liable for:

• Delays, interruptions, outages, technical failures, cybersecurity incidents, system maintenance, banking, payment network, settlement system, or telecommunications failures or disruptions, or events beyond SFPL’s reasonable control
• Errors, omissions, or inaccuracies in customer-provided information
• Actions, delays, refusals, reversals, or failures of third-party banks, financial institutions, payment providers, correspondent institutions, or service providers
• Funds released or paid by a payout partner, correspondent institution, or financial institution in accordance with the transaction details, security procedures, or identification requirements reasonably applied by that institution
• Delays arising from compliance, verification, fraud prevention, regulatory, or security-related reviews
• Indirect, incidental, special, punitive, or consequential losses or damages

SFPL's responsibility ends once funds are paid to the Recipient, made available for collection, or credited to the nominated account or payment channel in accordance with the transaction instructions, unless otherwise required by law.

Nothing in these Terms excludes, restricts, or modifies any rights or remedies that cannot lawfully be excluded under Australian Consumer Law or other applicable laws.

SFPL makes no warranties, express or implied, including availability, accuracy, or fitness for purpose.

The Sender must promptly verify that the funds have been received by the Recipient.

The Sender must notify SFPL within 30 days of the transaction date if:

• funds are not received by the Recipient, or
• there is any error, discrepancy, or incorrect credit

Requests to correct beneficiary details (including name, account number, beneficiary type, or other transaction information) may not always be possible once processing has commenced.

Where a transaction requires amendment because the beneficiary account is identified as a commercial/business account, Roshan Digital Account (RDA), foreign currency (FX) account, multi-currency account, or due to incorrect, incomplete, or changed beneficiary details, SFPL reserves the right to apply an administrative fee of up to AUD 15.00 per request. SFPL may also recover any charges imposed by correspondent banks, partner banks, payment providers, and reasonable operational or administrative costs incurred in investigating, amending, recalling, or reprocessing the transaction.

SFPL relies on banking partners and correspondent institutions to process payments. Verification, tracing, and recovery of transactions become significantly more difficult after 30 days.

Where a request for investigation or tracing is made after 30 days:

• SFPL reserves the right to apply an administrative fee of AUD 75 per transaction
• Additional charges from correspondent banks or third parties may apply
• SFPL does not guarantee successful tracing or recovery of funds

Claims submitted after 12 months may not be accepted, particularly where:

• records are no longer readily accessible, or
• recovery from third-party institutions is not possible

SFPL maintains an internal complaints handling process and aims to resolve complaints promptly, fairly, and efficiently.

Complaints must be submitted in writing by email to the contact details notified by SFPL from time to time.

For record-keeping, compliance, and dispute resolution purposes, SFPL may require complaints to be submitted or confirmed in writing before they are investigated or actioned.

SFPL will acknowledge and investigate complaints within a reasonable timeframe, having regard to the nature and complexity of the matter and any applicable legal or regulatory requirements.

Customers are expected to cooperate with any reasonable requests for information, documentation, or clarification required to investigate and resolve a complaint.

Nothing in this clause limits SFPL's obligations under applicable laws or regulatory requirements.

SFPL may, at its sole discretion, temporarily or permanently suspend, restrict, or terminate a customer’s profile or account without prior notice where:

• False, misleading, or inconsistent information is provided
• The customer is uncooperative or unwilling to provide requested information or documentation
• Repeated failure, refusal, delay, avoidance, or reluctance to provide information or documentation reasonably requested by SFPL for compliance, verification, customer due diligence, fraud prevention, risk management, or regulatory purposes
• There is any attempt to conceal, withhold, or misrepresent material information
• Any documents appear to be altered, forged, tampered with, or otherwise unreliable
• Aggressive, abusive, threatening, intimidating, harassing, inappropriate, or unreasonable conduct is directed towards SFPL staff, including repeated hostile or disruptive behaviour
• Suspicious, fraudulent, or potentially unlawful activity is identified
• Compliance or verification requirements are not met
• Multiple or duplicate accounts are identified
• Required by law, regulator, or internal risk policies
• SFPL determines that the customer relationship is no longer appropriate having regard to compliance, risk management, operational, regulatory, fraud prevention, customer conduct, reputational risk, or other legitimate business considerations.

Where a customer profile has been suspended, restricted, inactive, closed, or voluntarily deactivated, SFPL is under no obligation to restore access or resume services.

Any request for reactivation will be subject to updated verification, compliance review, and approval by SFPL’s Compliance Team.

A nominal administrative fee may apply in accordance with Clause 5 where a customer requests reactivation of an inactive, suspended, closed, or voluntarily deactivated profile.

SFPL may be legally prohibited from disclosing the reason for such actions.

You agree to indemnify and hold harmless SFPL from any losses, claims, damages, costs, liabilities, or expenses reasonably incurred by SFPL to the extent caused by:

• your use of the Service in breach of these Terms;
• your breach of these Terms;
• the provision of incorrect, incomplete, misleading, or false information;
• your failure to safeguard account access, credentials, passwords, or security information;
• any unlawful, fraudulent, deceptive, or unauthorised activity associated with your account; or
• your failure to comply with applicable laws, regulatory requirements, or reasonable requests made by SFPL for compliance, verification, or risk management purposes.

Services may be temporarily unavailable, delayed, restricted, suspended, or interrupted due to maintenance, system upgrades, technical issues, cybersecurity incidents, telecommunications failures, banking or payment network disruptions, power outages, industrial actions, natural disasters, civil unrest, war, government actions, operational interruptions, or other events beyond SFPL’s reasonable control.

SFPL may suspend, restrict, or limit access to services where reasonably necessary for maintenance, security, compliance, operational, technical, or risk management purposes.

SFPL may update or amend these Terms from time to time by publishing the updated Terms on its website or through other appropriate communication channels.

SFPL may assign or transfer its rights and obligations under these Terms to another entity without affecting your rights.

If any provision of these Terms is found to be invalid, unlawful, or unenforceable, the remaining provisions shall remain valid and enforceable.

Where there is any inconsistency between these Terms and applicable laws or regulatory requirements, those laws and requirements will prevail.

These Terms are governed by the laws of New South Wales, Australia.

Sydney Forex Pty Ltd (SFPL)  |  ABN 15 111 743 750  |  Suite 13–14, 168 Haldon Street, Lakemba NSW 2195  |  Document version: June 2026