Remittance Client Terms & Conditions

Forex World is required by law to verify the identity of all remittance customers in accordance with anti-money laundering and counter-terrorism obligations. We may use third-party identification verification service providers (such as credit reporting agencies) to match your information against public and government sources. This process is solely for identity verification purposes.

• Credit data files held by Equifax Pty Ltd (for identification only, not a credit check)
• Publicly available information such as the electoral roll
• Official records via third-party systems (e.g., government departments)
• Screening against current global lists

• Transacting as an Individual: These terms apply to private individuals transacting with Forex World Pty Ltd (ABN 48 101 220 777).
• Beneficial Ownership: You must be the owner of the funds you intend to transfer.
• Remittance Instruction: Instructions must come directly from you. No third-party or agent instructions are accepted.
• Agreement Structure: Each transaction is a separate agreement incorporating these terms.

• Remittance Provider: Forex World is registered with AUSTRAC and provides remittance services from Australia to the Philippines via regulated partners.
• No Cash Policy: All funds must be transferred electronically. Cash deposits are not accepted and will be refunded (a $10 fee applies for cash deposit refunds).
• Transaction Fees: Minimal transaction fees apply, depending on transaction type. See our website for details.
• Transaction Types: Various transaction types are available, each with specific terms and limitations.
• Published Exchange Rate: Rates are published weekdays 9am–6pm, are non-negotiable, and may change without notice.
• Funded Instructions: Transactions are processed only when both instructions and funds are received. The applicable exchange rate is that published on the day both are received.
• Additional Information: We may require the purpose of transaction and your relationship to the beneficiary for compliance.
• Transfer Value Limit: Maximum per transaction is $10,000 plus fees.
• Transactional Velocity Limit: Maximum of 5 transactions per week per customer.
• No Financial Advice: Forex World does not provide financial advice. You are responsible for your transaction choices.

• Online Portal (F.I.R.S.T.): Secure, password-protected access for remittance instructions. You are responsible for your login credentials.
• Call-In Instructions: Instructions can be provided by phone after identity verification. All calls are recorded.
• Email Instructions: Instructions may be sent by email. Complete information is required for processing.
• Other Methods: Instructions via social media, chat, SMS, or online forms are not accepted.
• No Obligation to Accept: Forex World may refuse instructions or transactions at its discretion. Refunds will be processed unless otherwise required by law.

• Transaction Agreement: Transactions are binding once instructions are received (online, phone, or email).
• Online Instructions: Transactions requested online are binding upon receipt. Confirmation is sent by email.
• Email Instructions: Transactions are binding upon receipt of your email. Processing may not be immediate; confirmation will be sent.
• Telephone Instructions: Transactions are binding at the end of the call. Confirmation is sent by email if available. Calls are recorded for evidence in case of disputes.
• Cancellation: Once instructions are received, transactions cannot be cancelled. Corrections may be possible before processing, possibly with a fee.
• Exchange Rate Errors: Mistakenly published rates are not binding. Notify us of errors immediately.

Forex World performs due diligence in accordance with the Anti-Money Laundering & Counter-Terrorism Financing Act 2006 and Rules 2007. We collect and verify personal information (including name, address, date of birth, email, contact details, and identification documents) using third-party services and official records.

We may use your information to send you promotional material unless you opt out. Your information will not be shared with third parties except as described in our Privacy Policy.