Home / Rights and Responsibilities of Consumers
Global Money Exchange Co. LLC (GMEC) operates under the supervision of the Central Bank of Oman (CBO) and is committed to complying with all applicable laws, regulations, and directives relating to Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT). Consumers using GMEC services are required to observe the following rights and responsibilities.
Consumers must provide complete, accurate, and truthful information when completing any forms or submitting documentation to GMEC, including identification and supporting documents required under Know Your Customer (KYC) and Customer Due Diligence (CDD) requirements. The submission of false, misleading, or incomplete information, or the concealment of material facts, is strictly prohibited and may result in refusal of service or reporting to the competent authorities, as required by law.
GMEC products and services may only be used for lawful and legitimate purposes. Consumers must not use GMEC services to facilitate money laundering, terrorist financing, fraud, sanctions evasion, or any other prohibited or criminal activity. GMEC reserves the right to refuse, suspend, delay, or terminate transactions or services where there is suspicion of illegal activity or non-compliance with AML/CFT regulations, without prior notice where permitted by law.
Consumers acknowledge that GMEC is required to conduct customer due diligence, ongoing transaction monitoring, and enhanced due diligence where applicable, in accordance with CBO regulations. Consumers must cooperate with any requests for additional information or documentation required for compliance purposes.
Consumers are responsible for promptly notifying GMEC of any changes to their personal, identification, or contact information. GMEC may request updated documentation or verification where information appears outdated, incomplete, or inconsistent. Failure to update information may result in transaction delays, suspension, or refusal of services.
Consumers must provide valid and personal contact details, including mobile numbers and email addresses, that belong exclusively to them. The use of third-party contact details, including those of friends or relatives, is not permitted, as this may impact regulatory communication and transaction notifications.
Consumers are responsible for selecting products and services that meet their needs, either through independent assessment or with assistance from GMEC staff. Consumers acknowledge that remittance charges, exchange rates, and service terms may vary depending on transaction value, destination country, partner institutions, and prevailing market conditions.
Before submitting any transaction, consumers must carefully review all transaction details, including beneficiary information, fees, exchange rates, and terms and conditions. By proceeding, consumers confirm the accuracy of the information provided and accept responsibility for the transaction. GMEC shall not be liable for losses arising from incorrect or incomplete customer instructions.
Consumers have the right to request information or clarification regarding GMEC products, services, fees, exchange rates, and regulatory obligations. GMEC staff will provide information in a transparent and professional manner in line with CBO consumer protection requirements.
Consumers must pay the full transaction amount, including applicable commissions and Value Added Tax (VAT), prior to processing. GMEC does not provide credit facilities or allow deferred payments.
All foreign exchange rates are quoted based on the Omani Rial (OMR) against other currencies. Buying and selling rates differ and are determined by GMEC in accordance with prevailing market conditions and internal policies approved in line with CBO regulations.
Consumers acknowledge that transactions may be delayed, rejected, or placed on hold due to regulatory checks, sanctions screening, correspondent bank requirements, or partner service provider reviews. In such cases, GMEC will act in accordance with applicable laws and regulatory instructions.
Consumers may request cancellation and refund of transactions that have not yet been processed. For transactions already transmitted, refunds will be subject to confirmation from correspondent banks or service providers. The original transaction receipt must be presented. Refunds will be processed through the original payment method and issued in Omani Rials (OMR), in accordance with regulatory requirements.
Where a transaction is rejected or refunded by a correspondent bank or service provider, GMEC will notify the remitter using the registered contact details within seven (7) working days, subject to information received from the relevant third parties.
Consumers who are dissatisfied with GMEC services may submit a formal complaint. GMEC will register, investigate, and resolve complaints in accordance with its internal complaints handling policy and CBO consumer protection guidelines.
GMEC is committed to protecting consumer personal data and maintaining confidentiality in accordance with applicable laws and regulations. Consumer information may be retained, shared, or disclosed to regulatory authorities, law enforcement agencies, or the Central Bank of Oman where required by law, including for AML/CFT reporting, suspicious transaction reporting, and record-keeping obligations.
Corporate Head Office, Muscat
PB 726, PC 131, Ruwi, Sultanate of Oman
+968 - 2479 9454 | +968 - 7222 3700
globalho@globalmoneyexchange.net
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