This section sets out the terms and conditions under which ACE-FX trades. This service is only available to individuals resident (or in the case of companies, incorporated) in the UK, and who access the sitefrom within the UK.
Definitions:
Business Day: means from 9am - 5.00pm from Monday - Friday save for any public bank holidays in England and Wales;
Customer: means a person using these services having agreed to these terms and conditions;
Contract: means the formal Contract entered into between you and us for a foreign exchange transaction to buy travellers cheques and/or the relevant currencies at the quoted exchange rate on the dates quoted and to make the payment set out therein on and subject to these Terms and Conditions.
Currency: the currency purchased by You at the agreed exchange rate pursuant to the Contract.
Travellers Cheques: the travellers cheques purchased by You at the agreed exchange rate pursuant to the Contract.
We/us/our: ACE-FX
Website: www.ace-fx.com
You and/or Your: a person agreeing to these terms and conditions in order to use our service.
By using this service, you acknowledge that you have read and understood these terms and conditions, and agree to be bound by them.
This service can only be used to order travel money for holiday or business travel and not for speculative, investment or any other purpose.
You warrant to us that the information that you provide to us is true and accurate in all respects, that you will not withhold any material information from us and you will provide us with any information that we may reasonably require.
Orders can be placed on-line or over the telephone by speaking to a member of our Customers Services team. The maximum on-line order value for Foreign Currency and/or Travellers Cheques is £2,500. The maximum telephone order value for Foreign Currency and/or Travellers Cheques is £7,500, with orders over £2,500 payable by Bank Transfer only. (We reserve the right to amend the maximum order values at any time at our discretion without notice, and without liability to you). The minimum order value for Foreign Currency and/or Travellers Cheques is £100; orders under £400 may be subject to a £3.95 handling charge; please be advised that we can only accept one order per customer, every 14 days.
You must provide all the requested information for us to process the order. We reserve the right to request further information from you should it be required at any time.
We will acknowledge receipt of your order, but this acknowledgement shall not constitute our acceptance of your order. Currency availability may be subject to monetary limits, currency exchange restrictions and to customers complying with Anti-Money Laundering regulations*. (We are unable to supply foreign coins).
Orders placed will be rounded up to the nearest currency note/cheque denomination.
We do not deliver to business addresses.
* ACE-FX acts in accordance with Anti-Money Laundering regulations.
When making payment you warrant that you are acting on your own behalf, for a genuine reason and that the funds used to purchase are legally and beneficially yours, has not been obtained by illegal means nor in any way contrary to the rights of the legal owner and is not tainted in anyway by criminal activity.
1. By Bank Transfer (Internet / Telephone Banking / CHAPS / BACS / Faster Payments)
You can choose to pay for your order using Bank Transfer. You undertake that all details provided are correct, the bank account is your own and that the billing address of your bank account matches the delivery address of your order. Next day delivery may not apply for payment made by bank transfers. We cannot send out an order until we receive cleared funds.
If your bank is offering the Faster Payments service, we will receive your payment within 2 hours. If payment for your order is received by 3.30pm, your currency and/or Travellers Cheques will be despatched the same day. Therefore we require you to place your order before 12.00pm for next day delivery. If your payment has not been received by 2.00 pm we accept no liability for any delay in processing your order. If you have specifically requested a Saturday delivery on a Friday and your payment has not arrived by 2.00 pm we will not reimburse the additional fee that you have paid.
If your bank is not offering Faster Payments service, we will receive your payment within 2 to 3 working days, and we will despatch your order on the same day if we receive your payment by 2.00pm (if received later, your order will be despatched the following day). In this case, you can expect delivery within 5 to 6 working days. Due to exchange rate fluctuations, payment must be received within 4 working days, or the order may be subject to cancellation.
IMPORTANT: Please note that once payment has been sent from your bank account, your order can not be cancelled. Please refer to the ‘Cancellations’ section below for further information.
2. General
Orders will be processed at the foreign exchange rates quoted on our website on the day of ordering.
When you return to the UK, you can change back your unused foreign currency into sterling at any ACE-FX branch, commission free upon production of the original transaction receipt. Please call our Customer Service Centre on 0207 357 9700 for details of your nearest location.
You can also do this through our ACE-FX currency Buy back postal service, for more details please call 0207 357 9700. The buy back service is subject to the prevailing rate of exchange on the day the currency is received. The buy back service may be withdrawn at any time, without notice and without liability to you and will be subjected to you producing the relevant documents.
Home Delivery
| Payment Received | Order Despatched |
| Before 2.00pm Monday to Friday | Same Day |
| After 2.00pm Monday to Thursday | Following Day |
| After 2.00pm Friday, and all weekend | Monday |
*IMPORTANT: Next day delivery may not apply for payment made by bank transfers. ACE-FX cannot send out an order until we receive cleared funds.
All orders are despatched using Royal Mail Special Delivery, which means your order should reach you next working day before 1:00pm. A signature will be required on delivery of all orders.
Customers must refuse to accept any packages which appear to have been tampered with or damaged during transit by Royal Mail. Should you sign for a package which has been damaged or tampered with, we will not accept any responsibility for any financial loss.
Please place all orders at least 3 working days before it is required. We will not be liable for any losses or expenses arising from late or non-delivery, if Royal Mail fails to deliver an order, a full refund may only be given after 10 working days of dispatch.
Royal Mail can deliver your order on a Saturday, for an additional fee of only £0.99.
Our delivery schedule is subject to variation for public holidays. During these periods, information about revised delivery times shall be posted on our website.
We require that you notify us of any problems with your order within 72 hours of receipt. Mistakes cannot be rectified after this period.
When making a booking, we advise You to order 72 hours in advance of the collection date. However for all weekend collections, please order by noon on the previous Wednesday.
On collection of your Booking, you will need to produce the following:
Reference number of your order (as shown on the confirmation email we send you).
Your valid UK passport, driver's license or other acceptable form of photographic proof of identity such as: Current EU members state ID card with photo, Firearms certificate or shotgun licence ID Card, issued by the electoral office for Northern Ireland, 1 piece of government issue photographic ID.
Failure to provide any of the above may result in us cancelling or holding the Booking until you provide further satisfactory documentation. You will be given up to 24 hours to collect your currency from the date and time specified in your booking after which we will cancel your Booking.
You acknowledge and agree that we can refuse/cancel your order at anytime, for any reason, at our absolute discretion, especially if we reasonably feel that you will be unable to fulfil your obligations under these terms and conditions.
Orders which are to be paid by Credit/Debit card cannot be cancelled by you.
Orders which are to be paid by Bank Transfer may only be cancelled if you have not instructed your Bank to transfer payment to ourselves. Once the transfer has been made by your Bank, your order cannot be cancelled even if we have yet to receive cleared funds.
Only under exceptional circumstances (and at the Management’s sole discretion) may an order may be cancelled, but this will be done with one of the below penalties:
1. An offer to buy back your order at the Buy back rate.
2. An offer to buy back your order at the same rate minus a £10 administration fee.
If you are in breach of this Terms and Conditions, and if capable of being rectified and after receiving notice, you do not rectify the breach within a reasonable time, we may terminate any Contract forthwith/cancel your order(s). You will be liable for any losses that we incur. We may also terminate any Contract if we are required to do so on the instructions of any law enforcement agency or regulatory body. In this case we may retain all or any of your money if we are required to do so by law and then deal with it as ordered by a court or other body of competent jurisdiction.
Should any order paid for by Debit/Credit card be cancelled before being processed, your pre-authorised payment will be voided on the same day of cancellation. However, your card issuer may then suspend the associated funds for up to 10 working days (5-7 days being the norm), before releasing them back into your account. Please be advised that this ruling is beyond ACE-FX currency and travellers cheques' control and we have no liability for such actions.
If we are in breach of our obligations under these Terms and Conditions, We will only be liable to you for the direct losses that you incur. Direct losses means the value of the Currency You ask us to transfer, pursuant to any Contract. You accept that this is a reasonable pre-estimate of the loss you may suffer resulting from any breach of us or our obligations hereunder.
To the extent permitted by law:
All conditions, warranties and remedies imposed or implied by any applicable law are expressly excluded (save for death, personal injury or fraud, our liability shall remain unlimited);
We will not be liable to You in Contract, tort or for breach of statutory duty or in any other way in connection with the Terms and Conditions for any indirect or consequential losses or special damages or for loss of profit, contracts, business or anticipated savings or any other additional costs that you may incur whether or not such costs, losses or damages were in the contemplation of the parties at the date of the Trading Agreement; and
Under no circumstances shall we be liable for an act of omission of any third party involved in the payment process or otherwise. All implied terms are excluded to the fullest extent available under of the law.
You agree to indemnify us against all liabilities that we incur as a result of us accepting your order(s) to buy/sell currency and/or following your instructions or instructions that purport to be from you. You will be liable for and will indemnify us against any costs, losses or liabilities that We may incur in connection with or arising out of your order(s) including, without limit, costs, losses or liabilities We incur with third party currency dealers, exchange brokers, banks or similar entities or any clearing house or regulatory body.
We may charge you interest on any amounts owing to us at the rate of 1% per annum above the Bank of England base rate from time to time in force, interest will accrue daily and be compounded monthly from the due date until payment. If you have any liability to us under these Terms and Conditions, we may retain any sums that we are holding for you, on whichever order or contract, to offset against our costs, losses or liabilities. To the extent that any retention of such sums shall mean that we shall then hold insufficient funds to make the payments, the subject of any order/contract, we shall inform you, and you will forthwith supply us with sufficient funds so that we may make the payment due under the contract/order.
We shall not be liable if for any reason we are unable to perform our obligations under these Terms and Conditions due (directly or indirectly) to the failure of any machine, data processing system or transmission link or industrial dispute, delivery system or any other cause outside our control or our agents or subcontractors.
We are committed to the lawful and correct treatment of personal information and will only use information obtained lawfully and in accordance with the Data Protection Act 1998 ("the Act"). This privacy policy statement will apply equally to all of our offices irrespective of where they are based, save for where part or all of any local law takes precedence over the Act.
You agree that we may keep the personal details about you, which you or others give Us.
Companies in Our Group may use and update this centrally held information to identify products and services that might be suitable for you. We may contact you about products and services available which we believe may interest you, unless you have informed us that you do not want to receive this information. In these circumstances, other companies, including those in Our Group, will not make marketing approaches to you without your consent.
We may also use your information for research and statistical analysis in order to improve the services we offer. If you ask, we will tell you what information we hold about you and provide you with a copy in accordance with the Data Protection Act. The fee for this is currently £10. The information We hold about You is confidential and will only be disclosed outside the Group:
with your consent;
to Our agents and others in connection with running accounts and services for You;
to investigate or prevent crime;
the law permits or requires it, even without Your consent; or
if there is a duty to the public to reveal the information.
We may check what you have told us and share information with fraud prevention agencies. It is important that you give us accurate information. If you give false or inaccurate data and we suspect fraud, we will record this in such manner as we think fit.
We may monitor or record phone calls with you in case we need to check that we have carried out your instructions correctly and to help improve our quality of service.
Your information may also be used to enable us to enforce our rights under this Agreement if necessary. We may from time to time provide you with information relating to other services that Ace-FX or other companies within the Group offer. Please tick the relevant boxes.
You acknowledge and agree that the processing and disclosure of information will involve the transfer of information outside the European Economic area, including to countries worldwide which do not have data protection laws. Any consent given by you in this agreement is without prejudice to any other right We may have to process information relating to You under the terms of any other agreement or as otherwise permitted by applicable.
We reserve the right to amend, cancel or suspend these Terms and Conditions at any time.
We will give you notice of such variation either by writing to you, placing an advertisement in the press and/or making an announcement via the Website.
Your obligations under these Terms and Conditions may not be assigned or transferred in anyway to any other party. We shall have the right at any time to transfer and assign our rights under these Terms and Conditions to any other party as we deem fit.
Use of your foreign exchange facility is subject to all applicable rules and customs involved in foreign exchange transactions.
Any delay or failure on our part to exercise our rights shall in no way amount to or be deemed as a waiver or giving up of such rights by us, nor shall it prejudice any of our other rights under these Terms and Conditions.
Should we terminate any contract your liability to indemnify us shall not terminate.
A person who is not a party to the Trading Agreement has no rights under the contracts (Rights of Third Parties) Act 1999 to enforce any term of the Trading Agreement but this does not affect any right or remedy of a third party which, exists or is available under that Act.
Should any of these Terms and Conditions be deemed to be unenforceable or illegal, the remainder of the Terms and Conditions shall remain in full force and effect as if the unenforceable or illegal part has been removed.
Should any of these Terms and Conditions be in conflict with any other documentation or information that we have provided to you in connection with any order, then these Terms and Conditions shall have priority unless specifically agreed by us in writing that such other documentation and information shall have priority in whole or in part.
These Terms and Conditions and any disputes or claims arising out of or in connection with them shall be governed by and construed in accordance with the laws of England and Wales and the English Courts shall have jurisdiction over any such dispute.
ACE-FX plc.
Registered office: 5 London Bridge Walk, London SE1 2SX