Terms and Conditions

The following Terms & Conditions govern the Lulu Money Services offered by Lulu International Exchange L.L.C (Lulu Exchange, we, us, our, ours, including all grammatical variations) in the territory of United Arab Emirates for residents of the country. The General Terms & Conditions for the in-branch services (Branch Services) (“General T&C’s”) with Lulu Exchange read and accepted at Branch outlet as part of registration process will continue to be applicable except only where such Other Terms & Conditions are in conflict with these Terms & Conditions (“T&Cs”), in which case this T&C shall prevail.

Definitions

Account: Means the Lulu Money Account created by You on the Lulu Money mobile app or through the branch in order to avail the Lulu Money Services.

Alerts: Means the customized alert messages Lulu sent to Your Device provided to Lulu Exchange and appearing on Lulu Exchange’s records.

Business Day: Means a day on which Lulu is open for business in United Arab Emirates.

Branch Services: The services provided by Lulu Exchange across our branches

Device: Means whether a mobile phone, tablet, computer, laptop or any other device used to process a Transaction on the Lulu Money app.

Instruction(s): Means the electronic instructions You initiated remotely and electronically transmitted via Your Device to Lulu Exchange.

Lulu Exchange: Means Lulu International Exchange L.L.C and its branches, successors and legal assigns.

Lulu Money: Means Lulu Exchange website and mobile application made available on iOS app store and Android play store to be downloaded for the provision of Lulu Exchange’s Services, transactions details, initiating funds transfer instructions and other services as may be made available to You by Lulu Exchange online or through the from time to time in each case through customer owned Device.

Lulu Money Services: Means the money remittance services available online on Lulu Money or offline through the branches.

One Time Password: Means the 6-digit number sent to Your Device for security purposes in order to register and continue using Lulu Money.

Payment Gateway: Means a service provided by an e-commerce application/ payment service provider that authorizes debit card or direct payments processing for electronic businesses. Lulu Money utilizes the services of, but not limited to, Central Bank Payment Gateway, Etisalat Payment Gateway and Mastercard Payment Gateway.

Push Notifications: Means the customized messages Lulu Exchange sends due to specific events and/or transactions relating to Your Account such as push notifications, notices, products, updates, general greetings.

Remittances: Means fund transfers from Your bank account or through the branches to any beneficiary account maintained with another Bank.

Security Codes: Means all passwords, activation keys and other codes as may be prescribed by Lulu Exchange from time to time.

Security Tools: Means Your User ID, Password, One Time Pin, face id and any other means of security Lulu Exchange accredited from time to time to allow You to get access to the Lulu Money Services.

Transaction(s): Means any instructions initiated by You, using Your Account on Lulu Money.

Website: Means Lulu Exchange’s website, www.luluexchange.com and www.lulumoney.com/

You or Your: Including all grammatical variations means an individual who maintains an Account and is authorized to conduct Transactions via Lulu Money Services.

Interpretation

• Words importing only the singular shall include the plural and vice versa.
• The words importing any gender shall include all genders, words importing person shall include a sole proprietor, partnership, firm, company, corporation or other legal person.
• Words and text not defined in the Lulu Money Terms and Conditions shall have the meaning as defined under the General T&C’s.

Scope

The Lulu Money Services will only be available for a Device running either on Apple or Android operating systems and data connections which meet the required specifications and configurations. You agree to procure and maintain a Device and data connection which meets these requirements at Your own expense.

• The guidance on the operation of the Lulu Money Services will be made available to You. You must follow all relevant guidance whenever You operate the Lulu Money Services. In case there are changes to the way You should operate the Lulu Money Services; Lulu Exchange will notify about such changes.
• Lulu Exchange may post alerts on its Website and it is Your responsibility to check any updates or changes Lulu Exchange may do. You accept that in the future, Lulu Exchange may send Push Notifications from time to time, add, delete, and/or modify the Push Notifications based on Your requests.
• The Lulu Money Services will be available 7 days a week, 24 hours a day but there is no warranty that the same will be available at all times and shall be subject to any downtime due to unforeseen circumstances and scheduled maintenance. Instructions received after Lulu Exchange’s normal working hours will be processed on the next Business Day. You agree that Lulu Exchange shall be entitled at any time, at its sole discretion and without prior notice, to temporarily suspend the operation of the Lulu Money Services for updates, maintenance and upgrading purposes without any liability from its end.

Acceptance

By registering on, accessing, browsing, downloading, creating the Account or using the Lulu Money for any general purpose or for the specific purpose of availing any Lulu Money Services, You agree to be bound by these terms and conditions set forth below as well as by the service-specific terms and conditions applicable to each Lulu Money Services (hereinafter collectively, the T&Cs). These T&Cs shall also include any additional or modified terms and conditions in relation to any additional or modified service-specific terms and conditions in relation to any Lulu Money Service or any future service that may be offered by Lulu Exchange on Lulu Money. By registering on, accessing, browsing, downloading, creating the Account or using (as applicable) the Lulu Money or availing any Lulu Money Services, You automatically and immediately agree to all the T&Cs. If at any time You do not accept or agree with any of the T&Cs or do not wish to be bound by the T&Cs, You may not access, browse or use the Lulu Money and immediately terminate Your availing the Lulu Money Services by deleting or deactivating the Account. Accepting or agreeing to the T&Cs will constitute a legal contract (hereinafter Agreement) between You, being at least 18 years of age and an individual user of the Lulu Money and Lulu Exchange. All services are rendered by Lulu Exchange through the Lulu Money under the brand name “Lulu Exchange” (or any derivatives or variations thereof). Consequently, all the rights, benefits, liabilities and obligations under the T&Cs shall, as the case may be, accrue to the benefit of, or incurred by, Lulu Exchange, regarding Your use of Lulu Exchange’s digital services (which includes but may not be limited to money remittance services), any services which may be added on the Lulu Money and which will henceforth be a Lulu Money Service, from time to time. The Lulu Money Services shall be used by You subject to Your adherence with the T&Cs. As long as You accept and comply with these T&Cs, Lulu Exchange grants You a personal, non-exclusive, non-transferable, limited, revocable privilege to enter and use the Lulu Money and/or avail the Lulu Money Services.

Eligibility

The Lulu Money Services are not available to persons under the age of 18 years or to anyone previously suspended or removed by Lulu Exchange from availing the Lulu Exchange Services or accessing Lulu Money. Further, the Lulu Money is not available for corporates, business houses or any other entity other than a natural person. The Lulu Money is not for the purposes of routing any corporate or business transactions. By accepting the T&Cs or by otherwise using the Lulu Money Services on the Lulu Money Mobile App, You represent that You are at least 18 years of age and have not been previously suspended by Lulu Exchange, or disqualified for any other reason, from availing the Lulu Money Services or using the Lulu Money and that you are a natural person intending to use the Lulu Money solely in capacity as a natural person and on your own behalf and that You will not route any corporate or business transactions from the Lulu Money Mobile App. In addition, You represent and warrant that You have the right, authority and capacity to enter into an agreement and to abide by all the T&Cs as part of Your agreement with Lulu Exchange. Finally, You shall not impersonate any person or entity, or falsely state or otherwise misrepresent Your identity, age or affiliation with any person or entity. Finally, in the event of any violation of the T&Cs, Lulu Exchange reserves the right to suspend or permanently prevent You from availing Lulu Money Services or using the Lulu Money Mobile App.

Security and Access Procedures

• Lulu will issue the Security Codes for You to access Lulu Money and Lulu Money Services. Lulu Exchange may also issue separate requirements, restrictions, instructions, activation and access procedures, or any additional conditions pertaining to the access and use of the Lulu Money Services, Lulu Money, the Security Codes or for performance of the Transactions (“Procedures”). You agree and undertake to be bound by and to comply with all of the Procedures that Lulu may issue from time to time.
• You must secure Lulu Money installed on Your Device with a password. All such passwords and the Security Codes must be kept strictly confidential and must not be disclosed to anyone else.
• You must not permit any person to access Your Device in such a manner that such person may access Lulu Money, Security Codes or the Lulu Money Service.
• In the event that You lose possession or control of Your Device in which Lulu Money and/or the Security Codes are installed, You must immediately notify and instruct Lulu Exchange in order to restrict the Lulu Money Services on Your lost device.
• Until and unless You notify Lulu Exchange, all Instructions received by Lulu Exchange which are associated with Your Security Code shall be deemed correct, valid and issued by You. Lulu Exchange shall be entitled to rely on such Instructions, whether they actually originated from You or purportedly originated from You. You accept that all erroneous or inadvertent messages received and processed are Your responsibility.
• You agree to indemnify Lulu Exchange against any and all liabilities, losses, claims and damages arising as a result of Your negligence, breach or non-compliance with the provisions of these T&C’s or as a result of You losing Your Device and/or Security Codes.

Use of Lulu Money

• You shall always comply with the following and hereby agree:
• Not to use Lulu Money for any purpose other than to access Your own Account, perform Transactions using the Lulu Money Services.
• Not to permit or enable any person to access Lulu Money or leave Your Device unattended in such a manner as to enable others to access Lulu Money.
• Not to reproduce, modify or reverse engineer, modify, decompile Lulu Money or permit any other person to do so.
• Not to permit any person to access the Security Codes.
• Acknowledge that the Lulu Money Services and all associated software are either owned, proprietary or licensed to Lulu Exchange.
• Communication :
  By registering with Lulu Money app, you consent to receive promotional messages, offers, updates, and marketing communications via SMS, email, push notifications, WhatsApp, or phone calls from Lulu Money and its affiliates.

Prohibited Conduct

By accessing or using Lulu Money or by availing Lulu Money Services or at Branch Services, You agree not to:

• violate the T&Cs;
• impersonate any person or entity, falsely claim or otherwise misrepresent Your affiliation with any person or entity, or access the accounts of others without permission, perform any fraudulent activity or otherwise avail Lulu Money Services with what we reasonably believe to be potentially fraudulent funds;
• use or access Lulu Money or any Lulu Money Service, to facilitate or support any act or omission by any party, that violates these T&Cs or any laws in any jurisdiction, including but not limited to rules and regulations relating to anti-money laundering, Notice 2922/2008, Federal law no (20) of 1972 , The standards for the Regulations Regarding licensing and Monitoring of Exchange business and any subsequent amendments thereto, illegal gambling activities, fraud, or funding of terrorist organizations, etc.
• infringe our or any third party’s intellectual property rights, rights of publicity or privacy;
• intentionally interfere with or damage operation of the Lulu Money Services or Lulu Money or any other user’s enjoyment of it, by any means, including uploading or otherwise disseminating viruses, adware, spyware, worms, or other malicious code or file with contaminating or destructive features;
• provide false, inaccurate or misleading information;
• avail Lulu Money Services with what Lulu Exchange reasonably believes to be potentially fraudulent funds;
• use the Lulu Money Services in a manner that results in or may result in complaints, disputes, reversals, chargebacks, fees, fines, penalties and other liability to Lulu Exchange, a third party or You;
• use the Lulu Money Services in a manner that Lulu Exchange or any payment card network reasonably believe to be an abuse of the payment card system or a violation of payment card network rules;

Transfer Fee

• Unless applicable law in the destination country requires otherwise, You will bear all fees for the money transfer. In certain cases, payment of a money transfer may be subject to local taxes and service charges. The beneficiary may incur additional fees for receiving funds sent by You. Transfers should be sent to a local (beneficiary) bank account, otherwise the receiving institution may convert the funds at its own exchange rate or reject the Transaction. The beneficiary’s agreement with its account provider/bank governs the account and determines their rights, liability, fees, funds availability and account limitations. In the event of an inconsistency between the account number (including mobile phone numbers for mobile accounts) and name of the beneficiary, the transfer will be credited to the account number provided by You. Lulu Exchange accepts no responsibility towards You nor to any account holder for any fees, exchange rates used for conversion to non-local currency, acts or omissions of the destination or intermediary financial service providers.
• Money transfer payments will normally be made in the currency of the origin country. All currency is converted at Lulu Exchange’s then current rate of exchange. Lulu Exchange calculates its rate of exchange based on commercially available interbank rates plus a margin. Most rates of exchange are adjusted several times daily in line with the relevant closing rate of financial markets globally.

Liability

The availability and proper functioning of the Lulu Money Services are dependent on many variable circumstances, including location, mobile network availability, Payment Gateway and signal strength, proper functioning of hardware, software and the Device, and Lulu Exchange shall not be liable for any loss or damage that may result directly or indirectly from any unavailability or improper functioning of the Lulu Money Service for any reason.

Lulu Exchange assume no liability whatsoever for any monetary or other damage suffered by the user on account of:

• The delay, failure, interruption, or corruption of any data or other information transmitted in connection with use of the Payment Gateway or services in connection thereto; and/ or
• Any interruption or errors in the operation of the Payment Gateway.

• You agree to indemnify and compensate Lulu Exchange for any damages, losses, expenses or liabilities Lulu Exchange incurred as a result of Your breach of these T&C’s, in particular the above instance specified under Clause 10.
• You understand that in the event of loss of Your Device and/or SIM Card or when others get possession of it, it can be misused. Accordingly, You agree to indemnify Lulu Exchange for any such misuse arising out of the same. You shall not hold Lulu Exchange responsible for any losses he may incur arising from it.
• If You open additional Accounts or subscribe to any of Lulu Exchange’s or its affiliates’ products, services and Lulu Exchange extends the Lulu Money Services to such Accounts, products or services and You opt to apply for the services, then the T&C’s of respective product or services shall automatically apply to such further use of the Lulu Money Services.
• Lulu Exchange abides to the requirements under Anti-Money Laundering and Counter-Terrorism Financing regulations currently in force. In meeting these requirements, we would provide details of your Transactions to the regulatory authorities as per their guidelines. For this purpose and the business requirements of Lulu Exchange, you agree to provide true, accurate, complete and current information and documents to Lulu Exchange. You shall indemnify Lulu Exchange for any loss caused to Lulu Exchange due to your provision of such untrue, inaccurate, incomplete or not current information and Lulu Exchange will not be responsible for any damages, losses or claims made against them.
• Other Services. Other products & services made available from time to time in the Lulu Money may be accessed by user based on subscription.
• You accept that there are risks when using internet as a reliable means of communication and should You decide to communicate and use any of Lulu Money Services through Lulu Money, You should do that entirely at Your own risk and without any liability from Lulu Exchange.
• The accuracy and correctness of all information and details transmitted through Lulu Exchange’s services are the responsibility of You and You accept that all Transactions and Instructions requested will be processed without the need of any further reference, written notice or verification from Lulu Exchange’s side.
• Once You submit and confirm an Instruction or a Transaction, Lulu Exchange shall be under no obligation to accept any amendment or cancellation afterwards.
• You can add a beneficiary for Transactions or payment through the Lulu Money’s services and You accept that Lulu Exchange will not be liable for any delay or non-payment if it was caused by an error on the details of the beneficiary or failure to identify the beneficiary or delay or failure to act by the receiving party.
• Lulu Exchange does not represent or warrant that the Lulu Money will be (a) available to meet the requirements; (b) uninterrupted and no delays; (c) free from failures, errors or omissions or loss of transmitted information; or (d) free from viruses or other contaminating or destructive properties that can damage Your phone operating system.
• You accept that Lulu Exchange will not be liable to You or any other person for any negligence, breach, misrepresentation, claim, delay, expenses, damages or any other liability including legal costs, any loss however caused and irrespective of whether any claim is based on law of torts, the loss of profit, business revenue, investment, goodwill, interruption of business or anticipated savings or loss of data which arises from:
  • Lulu Exchange acting or failing to act upon any of Your Instructions;
  • Any error contained in the information You have provided through Lulu Money Services;
  • Access or use of Lulu Money Services in the manner or purpose not authorized by Lulu Exchange or from Your part;
  • Malfunction or breakdown of access to Lulu Money Services; and
  • Any events outside Lulu Exchange’s control.
• You agree to treat access rights; documentation and any information related to Your Lulu Money Services strictly private and Confidential and You shall not copy or reproduce them in any form either in whole or in part.
• Alerts. If You subscribe, Lulu Exchange will provide You with alerts or confirmation to Your nominated contact number or e-mail address every time Transaction is performed using the Lulu Money services.
• Fees and Charges. You accept that Lulu Exchange may impose charges on the Lulu Money services and if applicable, Lulu Exchange will deduct the charges from Your Account or may charge additionally.
• In no event, Lulu Exchange or its contractors, agents, licensors, partners or suppliers will be liable to You for any special, indirect, incidental, consequential, punitive, reliance, or exemplary damages (including without limitation lost business opportunities, lost revenues, or loss of anticipated profits or any other pecuniary or non-pecuniary loss or damage of any nature whatsoever) arising out of or relating to: (i) this Agreement or the T&Cs; (ii) the Lulu Exchange Services, Lulu Money or any reference site/app/platform/service; or (iv) Your use or inability to use the Lulu Exchange Services, Lulu Money (including any and all materials) or any reference sites/app/platform/service, even if Lulu Exchange or a Lulu Exchange authorized representative has been advised of the possibility of such damages You acknowledge and agree that Lulu Exchange has offered its products and services, set its prices, and entered into this Agreement in reliance upon the warranty disclaimers and the limitations of liability set forth herein, that the warranty disclaimers and the limitations of liability set forth herein reflect a reasonable and fair allocation of risk between You and Lulu Exchange, and that the warranty disclaimers and the limitations of liability set forth herein form an essential basis of the bargain between You and Lulu Exchange. Lulu Exchange would not be able to provide the services to You on an economically reasonable basis without these limitations. Applicable law may not completely allow the limitation or exclusion of liability or incidental or consequential damages, so the above limitations or exclusions will apply to You subject to applicable law. In such cases, Lulu Exchange’s liability will be limited to the fullest extent permitted by applicable law. This paragraph shall survive the termination of this Agreement.

Indemnity

You agree to indemnify, save, and hold Lulu Exchange, its affiliates, contractors, sub-contractors, employees, officers, principals, directors, agents, licensors, and partners harmless from any and all claims, losses, damages, and liabilities, costs and expenses, including without limitation legal fees and expenses, arising out of or related to: (i) Your use or misuse of the Lulu Money; (ii) any violation by You of this Agreement; or (iii) any breach of the representations, warranties, and covenants made by You herein. Lulu Exchange reserves the right, at Your expense, to assume the exclusive defense and control of any matter for which You are required to indemnify Lulu Exchange, including rights to settle, and You agree to cooperate with Lulu Exchange’s defense and settlement of these claims. Lulu Exchange will use reasonable efforts to notify You of any claim, action, or proceeding brought by a third party that is subject to the foregoing indemnification upon becoming aware of it. This paragraph shall survive termination of this Agreement.

Debit, Bank Account Details

The debit card details provided by You for use of the aforesaid Lulu Money Service(s) must be correct and accurate and that You shall not use a debit card, that is not lawfully owned or the use of which is not authorized by the lawful owner thereof. You further agree and undertake to provide correct and valid debit card details.

You warrant, agree and confirm that when You initiate a payment Transaction and/or issue an online payment Instruction and provide your card /bank details:

• The user is fully and lawfully entitled to use such debit card, bank account for such Transactions;
• The user is responsible to ensure that the card/ bank account details provided by him/ her are accurate;
• The user is authorizing debit of the nominated card/ bank account for the payment of fees selected by such user along with the applicable Fees.
• The user is responsible to ensure sufficient credit is available on the nominated card/ bank account at the time of making the payment to permit the payment of the dues payable or the bill(s) selected by the User inclusive of the applicable Fee.

Method of Payment, Card Types accepted and Currency

Lulu Exchange accept payments online using Visa and Mastercard debit in UAE Dirhams.

Payment Gateway Disclaimer

The service is provided in order to facilitate access to view and pay Fees online. Lulu Exchange or the Payment Gateway do not make any representation of any kind, express or implied, as to the operation of the Payment Gateway. By accepting/ agreeing to these T&C’s, the user expressly agrees that his/ her use of the aforesaid online payment service is entirely at own risk and responsibility of the User.

Cancellation Policy

Once the user has registered and paid the fee through online Payment Gateway, He/She will not be able to cancel the Transaction in any circumstances, however, payment refund to the user can be considered only under the following refund policy,

Refund Policy for Payment Gateway Payments and Other Services

• Refund for Charge Back Transaction: In the event there is any claim for/of charge back by the user for any reason whatsoever, such user shall immediately approach Lulu Exchange with his/ her claim details and claim refund from Lulu Exchange alone. Such refund (if any) shall be affected by Lulu Exchange via Payment Gateway and such refund shall be made only through the original mode of payment or by any other means as Lulu Exchange deems appropriate. No claims for refund/ charge back shall be made by any User to the payment service provider(s) and in the event such claim is made it shall not be entertained.
• Refund for cancelled, fraudulent/duplicate transaction(s): The user shall directly contact Lulu Exchange for any transaction that is fraudulent or duplicate or to be cancelled transactions on account of incorrect information, misuse of Card/ Bank details by a fraudulent individual/party and such issues shall be suitably addressed by Lulu Exchange alone in line with their policies and rules.
• Refund will be conducted in accordance with Lulu Exchanges policy which includes the in-person attendance at any of our branches.

Disclaimer; No Warranty

To the fullest extent permissible pursuant to applicable law, Lulu Exchange and its third-party partners, licensors and suppliers disclaim all warranties or guarantees – whether statutory, express or implied – including, but not limited to, implied warranties of merchantability, fitness for a particular purpose, and non-infringement of proprietary rights. No advice or information, whether oral or written, obtained by You from Lulu Exchange or through the Lulu Money will create any warranty or guarantee other than those expressly stated herein. For the purposes of this Disclaimer, You expressly acknowledge that as used in this section, the term “Lulu Exchange” includes Lulu Exchange’s officers, directors, employees, shareholders, agents, licensors, contractors, subcontractors and affiliates. You acknowledge that Lulu Exchange is a facilitator of money remittance services and is not liable for any third party (banks etc.) obligations due to fluctuation in currency exchange rates, delay in remittance to Beneficiary bank account and all other instances, whether to any such banks’ account holder or otherwise. You expressly agree that use of the Lulu Money is at Your sole risk. It is Your responsibility to evaluate the accuracy, completeness and usefulness of all opinions, advice, services, merchandise and other information provided through the Lulu Money or on the Internet generally. Lulu Exchange does not warrant that the Lulu Money will be uninterrupted or error-free or that defects in the site will be corrected. The Lulu Money and any data, information, third party software, reference sites, services, or software made available in conjunction with or through the services and the site are provided on an “AS IS”, “AS AVAILABLE” and “WITH ALL FAULTS” basis and without warranties or representations of any kind either express or implied. Lulu Exchange, and its third-party suppliers, licensors, and partners do not warrant that the data, Lulu Exchange software, functions, or any other information offered on or through the Lulu Money or any reference sites/s/apps/services will be uninterrupted, or free of errors, viruses or other harmful components and do not warrant that any of the foregoing will be corrected. LULU EXCHANGE AND ITS THIRD-PARTY SUPPLIERS, LICENSORS, AND PARTNERS DO NOT WARRANT OR MAKE ANY REPRESENTATIONS REGARDING THE USE OR THE RESULTS OF THE USE OF THE LULU MONEY OR ANY REFERENCE SITES/PLATFORMS/APPS/SERVICES IN TERMS OF CORRECTNESS, ACCURACY, RELIABILITY, OR OTHERWISE. YOU UNDERSTAND AND AGREE THAT YOUR USE, ACCESS, DOWNLOAD, OR OTHERWISE OBTAIN INFORMATION, MATERIALS, OR DATA THROUGH THE LULU MONEY OR ANY REFERENCE SITES/PLATFORMS/APPS/SERVICES AT YOUR OWN DISCRETION AND RISK AND THAT YOU WILL BE SOLELY RESPONSIBLE FOR ANY DAMAGE TO YOUR PROPERTY (INCLUDING YOUR COMPUTER SYSTEM AND MOBILE DEVICE OR ANY OTHER EQUIPMENT) OR LOSS OF DATA THAT RESULTS FROM THE DOWNLOAD OR USE OF SUCH MATERIAL OR DATA. WE DO NOT AUTHORIZE ANYONE TO MAKE ANY WARRANTY ON OUR BEHALF AND YOU SHOULD NOT RELY ON ANY SUCH STATEMENT. THIS PARAGRAPH SHALL SURVIVE TERMINATION OF THIS AGREEMENT. IN NO EVENT WILL LULU EXCHANGE BE LIABLE FOR ANY INCIDENTAL, CONSEQUENTIAL, OR INDIRECT DAMAGES (INCLUDING, BUT NOT LIMITED TO, DAMAGES FOR LOSS INFORMATION AND THE LIKE) ARISING OUT OF THE USE OF OR INABILITY TO USE THE LULU MONEY.

Security Tools

• You will be given the Security Tools which You should be safeguarded at all times. The Security Tools are considered Your identification and authentication when access to Lulu Money services is made. Once completely and successfully entered, You agree that any Instruction(s) received or Transactions processed shall be deemed to have been authorized and to have originated from You without the need to obtain any further written or other confirmation even if those Instructions are not authorized by You or performed by another person.
• You agree that any person who uses the Security Tools to access Your Account through the Lulu Money services will be given access and Lulu Exchange is not obliged to further check the identity of such person or the validity of any Transactions made on Your behalf.
• You should immediately notify Lulu Exchange in case Your mobile device is lost, stolen or damaged.
• From time to time, Lulu Exchange will require You to change Your/her MPIN &/or Password for security purpose. Your MPIN &/or Password may be re-activated and if Lulu Exchange allows, You are given additional 5 attempts to log-in.
• In case You request for a new MPIN/ Password, Lulu Exchange will respond only after upon completion of the authentication process. In case Lulu Exchange approves Your request, Lulu Exchange will reset and issue a new MPIN/ Password which Lulu Exchange will deliver to Your registered mobile.
• In the event of any misuse, You accept that Lulu Exchange have the right to disable the access to Lulu Exchange’s services.

Data Security

At Lulu International Exchange, we take your privacy and data security very seriously. We protect and secure your financial and personal data using proven technologies. Certified and accredited by third party privacy organizations, Lulu International Exchange is regulated by the U.A.E government agencies.

• 24/7 Built-in Transaction Monitoring Protection: We continually monitor our platform to protect our customers from fraudulent activity and unusual transactions. For the safety and security of your Account, we may occasionally place a temporary hold or block a transfer until we can validate the activity. This is not done to intentionally slow down a transfer but to ensure the swift and accurate transfer of funds from your account to your intended recipient. When these transaction holds do occur, we will always attempt to contact you via email and phone for an additional security clearance and verification, particularly when your transaction is large or out of pattern.
• Regulated: Lulu Exchange is fully regulated and registered as a certified money transmitter and operates across UAE, Oman, Kuwait, Bahrain, Qatar, India, Philippines, Hong Kong, Malaysia, and Singapore.
• World-Class Compliance: We use a sophisticated, multi-point technique to ensure all transactions are subject to the appropriate levels of “Know Your Customer” and other regulatory checks.

You expressly and impliedly provide Your free and unconditional consent for the following: (a) for transferring Lulu Exchange’s rights and obligations under this Agreement and the T&Cs in favour of any affiliate or third party; (b) for using the Lulu Money and availing the Lulu Exchange Services by You subject to any specific terms and conditions imposed by any affiliate of Lulu Exchange; (c) for receiving communications, notices and information from any Lulu Exchange or any affiliate of Lulu Exchange; (d) for sharing of business information (including data analytics and any information relating to You or the services being availed by You) between Lulu Exchange and any affiliate, insofar as such sharing of business information is necessary or required for the following limited purposes: (i) provision of better services to Lulu Exchange’s customers (including You); (ii) provision of better services by Lulu Exchange’s vendors; (iii) to prevent any breach of a binding agreement between Lulu Exchange and any affiliate, or to give effect to any such agreement; (iv) for ensuring compliance with the applicable law or legally compelled disclosures by Lulu Exchange or by any affiliate of Lulu Exchange; or (v) for preventing fraud and money laundering and for enhancement of risk mitigation systems and processes in relation to the activities of Lulu Exchange or any affiliate; or (vi) Lulu Exchange retaining any and all information relating to You till such time as may be required under applicable laws or internal policies. Lulu Exchange’s privacy policy applies to use of the Lulu Money, and its terms are made a part of these T&Cs by this reference. Additionally, by using the Lulu Money, You acknowledge and agree that Internet transmissions are never completely private or secure. You understand that any message or information You send to the Lulu Money may be read or intercepted by others, even if there is a special notice that a particular transmission (for example, 44 card information) is encrypted.

Intellectual Property

The Lulu Money Services and the Lulu Money are owned and operated by Lulu Exchange. The visual interfaces, graphics, design, compilation, information, computer code (including source code and object code), products, software, services, and all other elements of the Lulu Money provided by Lulu Exchange (hereafter Materials) are protected by the Federal Law No. (7) of the Year 2002, Concerning Copyrights and Neighboring Rights, patent (Federal Law No. 31 of 2006), trade dress, and trademark laws (Federal Law No. 37 of 1992 on Trademarks (as amended by Law No. 19 of 2000 and Law No. 8 of 2002)), international conventions, and all other relevant intellectual property and proprietary rights, and applicable laws. As between You and Lulu Exchange, all Materials, trademarks, service marks, and trade names contained on the Lulu Money are the property of Lulu Exchange and/or third-party licensors or suppliers. You agree not to remove, obscure, or alter Lulu Exchange or any third party’s copyright, patent, trademark, or other proprietary rights notices affixed to or contained within or accessed in conjunction with or through the Lulu Money. Except as expressly authorized by Lulu Exchange, You agree not to sell, license, distribute, copy, modify, publicly perform or display, transmit, publish, edit, adapt, create derivative works from, or otherwise make unauthorized use of the Materials. Lulu Exchange reserves all rights not expressly granted in this Agreement. If You have comments regarding the Lulu Money or ideas on how to improve it, please contact customer service. Please note that by doing so, You hereby irrevocably assign to Lulu Exchange, and shall assign to Lulu Exchange, all rights, title and interests in and to all ideas and suggestions and any and all worldwide intellectual property rights associated therewith. You agree to perform such acts and execute such documents as may be reasonably necessary to perfect the foregoing rights.

General

• Lulu Exchange’s records maintained through the mobile network or otherwise, unless proven to be wrong, shall be accepted as conclusive and legally binding evidence of Your Transactions using the Lulu Exchange’s services.
• You shall be responsible to ensure strict adherence to the security guidelines for the use of Lulu Exchange’s services. This includes ensuring that any other security alerts that are posted on Lulu Exchange’s Website and/or Lulu Exchange advised to You through e-mail are observed and complied at all times.
• You may request to terminate the access to Lulu Exchange’s services at any time by giving Lulu Exchange a prior written notice of three (3) Business Days.
• Lulu Exchange may from time to time and at its sole discretion with prior notice to You, change and amend any of these (Terms and Conditions). The changes will apply on the (effective date) specified in the notice.
• These (Terms and Conditions) shall be construed in accordance with the laws of United Arab Emirates and the rules, regulations and directives of the Central Bank of United Arab Emirates. In the event of any dispute arising as a result of the breach of the T&C, the courts of Abu Dhabi shall have jurisdiction, provided that Lulu Exchange may, if it deems appropriate, initiate proceedings in any other jurisdiction.
• If any of the terms of this T&C’s is found by a Court or any other competent authorities to be void or unenforceable, such term(s) shall be deemed to be deleted from this T&C’s and the remaining terms of this T&C’s shall continue in full force and effect.
• The T&C’s are made in bi-lingual Arabic and English texts however, if there is any contradiction between the Arabic and English text, the English text shall prevail.

By applying for and using the Lulu Money Services, You acknowledge and accepts these T&C’s and any supplementary terms and conditions that may from time to time be in force.

The Website Policies and Terms & Conditions may be changed or updated occasionally to meet the requirements and standards. Therefore, the Customers are encouraged to frequently visit these sections in order to be updated about the changes on the website. Modifications will be effective on the day they are posted.

Lulu Money Rewards Program

The Rewards Program operates under the terms and conditions as set out below unless otherwise expressly stated (“T&Cs”). The Program is designed and administered in line with the Central Bank of the UAE’s Consumer Protection Regulation, ensuring fair treatment, transparency, and safeguarding of consumer rights.By registering and participating in thisRewardsProgram, you represent that you have read and agreed to these T&Cs.

Objectives of T&Cs

These T&Cs set out the rules for the Lulu Money Rewards Program and form a binding agreement between Lulu Money and each participating customer. Their purpose is to make the Program easy to understand, fair, and compliant, so you know exactly how to earn and use rewards.

JOIN THE REWARDS PROGRAM

1. Eligibility

1.1Possesses the legal authority to agree to theRewards Program T&C.

1.2 Provides valid and accurate personal information when enrolling in theRewards Program

1.3. The Program is open to all registered Lulu Money customers with an active account.
1.4. The Program applies only to transactions conducted via the Lulu Money mobile application (“LM App”).
1.5. Lulu Money reserves the right at any time to modify, suspend, or terminate eligibility at its discretion.

1.6 Customers shall provide explicit consent before enrolling in the Program, acknowledging that they have read and understood the Terms & Conditions in full.

2. Points Earning Rules

2.1. New Customers (Customer B): A new customer completing their first transaction will receive 3,000 Points (which worth AED 25).
2.2. Referral Bonus: An existing Lulu Money customer (“Referrer”) will receive 3,000 Points (worth AED 25) when:

• The Referrer successfully refers a new customer; and
• The referred new customer completes their first transaction of AED 50 or more.
• No points will be awarded for subsequent transactions by either new or existing customers, except under the referral conditions described above.

3. Points Conversion & Redemption

3.1. Conversion Rate:

• 1 AED = 120 Points.

3.2. Redemption Options:
Points can be redeemed in two ways:

a) Cashback on Lulu Money Transactions

• Customers must first convert their points into vouchers.
• Available voucher conversion options:
• 1,200 Points → AED 10 voucher
• 1,800 Points → AED 15 voucher
• Example: If a customer is transferring AED 100 and redeems a 1,200-point voucher, AED 90 will be charged to the customer , and AED 10 will be applied through the voucher.
• Minimum points required per redemption: 1,200.
• Maximum points redeemable per transaction: 1,800.

b) Conversion into Lulu Hypermarket “Happiness” Points

• Points may be converted into Lulu Hypermarket Happiness Points using the following slabs:
• 1,200 Points → 4,000 Happiness Points (worth AED 10)
• 1,800 Points → 6,000 Happiness Points (worth AED 15)
• Converted Happiness Points will be credited to the customer’s Happiness App account.
• Minimum and maximum redemption limits per transaction apply as above (1,200–1,800 points).

(c) QR Code Rewards — from Branch Remittance Voucher Only
Customers earn 300 points (AED 2.50) by scanning the QR code printed on their remittance voucher using the Lulu Money app.

• QR codes are only issued for remittance vouchers (not for bill payments, foreign currency, or other products).
• One reward per transaction: each QR code can be scanned once; points are awarded only for the first valid scan.
• Only the customer who performed the transaction may scan the QR code and receive the points.
• Multiple scanning for QR codes cannot be used for a single transaction.

4. General Conditions

4.1. Points are non-transferable, have no cash value, and cannot be exchanged for cash outside the redemption methods specified.
4.2. Points may only be redeemed by the customer who earned them and are tied to their registered Lulu Money account.

4.3 If the points are redeemed, they cannot be used again.
4.4. Points are valid for 24 months from the date of issuance, after which they will expire automatically and Vouchers will expire in 60 days from the date of issue.
4.5.The earning and redemption of points do not represent a contractual right to cash or guaranteed benefits, and Lulu Money reserves the rightto amend, modify the earningstructure, conversion, and redemption rules at any time without prior notice,even though such changes may affect the value of Points, or the ability to obtain certain Points subject to applicable regulations.
4.6.Lulu Money maintains systems to detect and prevent misuse or fraudulent redemption. Customers must report suspected fraud immediately. Educational material on safe usage will be periodically provided.Misuse of the Program, including fraudulent transactions or misuse of referrals, may result in cancellation of points and/or suspension of the customer’s account.

4.7 Lulu Money is committed to fair, transparent, and timely communication with customers. Key program information, updates, or changes will be disclosed through official digital channels at least 30 days prior to implementation

4.8 In case of conflict or discrepancy between these T&C and any other communications, including advertising or promotional materials, these T&C prevail

4.9 In case of any discrepancy in points accrual or redemption, customers may raise a complaint through official channels via customercare@ae.luluexchange.com or Call 600522204. All complaints will be acknowledged within 2 business days and resolved within 15 business days. If the issue remains unresolved, customers may escalate the matter to the Consumer Protection Department of the Central Bank of the UAE (CBUAE).

5. Limitation of Liability

5.1. Lulu Money shall not be liable for any technical failures, delays, or issues in the crediting or redemption of points.

5.2 Lulu Money shall not be liable for any direct, indirect, special, exemplary, punitive, incidental, or consequential damages of any kind, whether based in contract, tort, or otherwise, that arise out of or are in any way connected with the Lulu Money Rewards Program, these Terms & Conditions, or the operation, suspension, or termination of the Program; however, consumers’ statutory rights and protections under UAE and CBUAE regulations remain unaffected.
5.3. Lulu Money does not guarantee continued availability of redemption partners (such as Lulu Hypermarket) and may withdraw or change them at any time.

6. Intellectual Property and Personal Information

All trademarks, trade names, logos, designs, software, and other materials connected with the Lulu Money Rewards Program are the exclusive propertyof Lulu Money, its affiliates, or its partners. Participation in the Program does not grant customers any ownership, license, or right to use this intellectual property without prior written consent.

By joining and using the Program, customers acknowledge and agree that Lulu Money may collect, process, and share their personal informationas necessary to operate, manage, and improve the Program. This includes activities such as crediting and redeeming points, preventing fraud, verifying eligibility, and enabling benefits through third-party partners (such as Lulu Hypermarket for Happiness Points). All personal information will be handled in line with Lulu Money’s Privacy Notice, applicable data protection laws, and regulatory requirements of the Central Bank of the UAE (CBUAE).Customers’ information will not be sold to third parties, and when shared with service providers or partners, appropriate contractual and security safeguards will be applied.

.7Data Protection & Privacy Consumer rights

Customers may request access to, correction, or deletion of their personal data at any time. In the event of a data breach involving personal information, Lulu Money will promptly notify the affected customers and the Central Bank of the UAE (CBUAE), in accordance with the requirements of the Consumer Protection Standards (CPS) Section 7.4.

8.Canceled Transactions

·Refund Policy for Cancelled Transactions
In the event that a transaction is cancelled and a refund is required, the customer will only be refunded the payout amount (i.e., the actual amount paid by the customer at the time of the transaction, excluding any discounts).

·Refunds due to system or operational errors will be processed promptly once verified. Consumers will be informed of the correction steps in line with the CBUAE’s Consumer Protection Standards

·Non-Refundable Cashback/Discounts
Any cashback, promotional discount, or voucher applied during the original transaction will notbe refunded. The value of such discounts is considered a promotional benefit and not part of the refundable transaction amount.

Examples

·         If a transaction of AED 100 includes a AED 10 cashback voucher and the customer pays AED 90, only AED 90 will be refunded upon cancellation.

·         The AED 10 cashback value is non-refundable and will not be reissued.

·Eligibility for Refund
Refunds are only applicable for eligible cancellations in accordance with our cancellation policy. The refund process and timelines may vary depending on the payment method used.

·Amendments
These terms are subject to change at the discretion of Lulu International Exchange LLC. The most recent version if any will be available on the Lulu exchange website and Lulu money Mobile app.

9. Governing Law

6.1. These T&Cs are governed by the laws and regulations of the United Arab Emirates.Any dispute, claim, or controversy arising out of or in connection with the Program or these Terms & Conditions shall be subject to the exclusive jurisdiction of the courts of the Dubai.6.2. The Program remains subject to the oversight and regulatory requirements of the Central Bank of the UAE (CBUAE)

10. Mobile Number Policy

a)      Unique Identifier

• The Lulu Money Rewards Program is linked exclusively to the customer’s registered mobile number.
• This mobile number acts as the unique identifier for earning and redeeming Rewards points.

b)     Change of Mobile Number

• If a customer changes their registered mobile number, the Rewards points and vouchers linked to the old number will be temporarily nullified.

c)      Duplicate Numbers in System

• If the new mobile number provided is already present in Lulu Money’s system, any Rewards points and vouchers that may temporarily appear under that number will be deleted/adjusted by Lulu Money in the back end.Only the verified Rewards points and Vouchers belonging to the customer’s original account will be reassigned to the updated mobile number.
• Points are non-transferable under any circumstances.

d)      Vouchers

·         Customers are strongly advised to redeem all active vouchers before initiating a mobile number change.

·         Vouchers may become temporarily unavailable or invalidated during the transfer process.

·         Lulu Money will not be responsible for any expired or unredeemed vouchers if the customer proceeds with a number change without redeeming them first.

e)      Transfer of Rewards Points

• After verification, the original Rewards points will be reassigned to the customer’s new mobile number.
• Points cannot be redeemed during the transfer period, which may take 5–7 working days for revalidation.
• This process may take up to 5–7 working days.

f)       Temporary Unavailability

·         During this reassignment process, Rewards points may not be available for redemption.

·         Lulu Money will not be liable for any inconvenience caused due to this temporary unavailability.

g)      Customer Responsibility

·         Customers must ensure their registered mobile number is valid and updated.

h)     Final Authority

• Lulu Money reserves the right to amend or withdraw these terms at its sole discretion without prior notice.
• Any major program change, such as altering reward structure or expiry, will be notified to consumers at least 30 days prior through official channels.
• In case a customer raises a dispute regarding the balance of points or issued vouchers, the final decision on such matters shall rest with Lulu Exchange.

Transactions made at the BranchTerms & Conditions

• Use of Services:

You agree to use our services only for lawful purposes and in accordance with these Terms and any applicable Regulations. You will not use our services to conduct any illegal activity, including but not limited to money laundering, fraud, or terrorist financing.

• Eligibility:

The eligibility requirements for using our services are as follows:

• You must be at least 18 years old.
• You must be a resident of the UAE or have a valid UAE residence visa.
• You must have a valid identification document, such as a passport or Emirates ID,
• and provide accurate information during the Customer Due Diligence process.
• You must have a valid bank account or debit card to fund your transactions.
• You must comply with all applicable Regulations and these Terms.

• Registration
• To register for our services in-person at one of our branches, please follow the below process:
• Locate the nearest branch to you by visiting our website or contacting our customer service center.
• Bring your valid identification document, such as passport or Emirates ID, and provide accurate information during the Customer Due Diligence process.
• Complete the Customer Due Diligence (CDD) process by providing additional information about yourself and your transaction, such as the recipients details and purpose of the transaction.
• Once your account registration is approved, you can start using our services to send money, buy or sell foreign currency, and access our Value Added Services.
• Please note that we may require additional documentation or information from you, such as proof of address or income, if deemed necessary to comply with applicable Regulations or to assess the risk associated with your transaction.
• Payment:

Payment for our services can be made using Bank Transfer, Debit Card and cash. Please note that additional fees and charges may apply for using certain payment methods or forspecific services. The applicable fees and charges will be disclosed to you before you confirm your transaction.

• Fees and Exchange Rates:

We charge fees for our services, which may vary depending on the transaction amount and the payment method used. We also apply exchange rates for currency conversions. The applicable fees and exchange rates will be informed to you at the time of the transaction. You agree to pay the applicable fees and exchange rates for your transaction.

• General
• Currencies once exchanged, will be bought/sold only at our prevailing buying/selling rate
• Lulu International Exchange LLC or its branches/correspondents/agents (“Lulu”) accept no responsibility/liability, whatsoever, in any form for delays, bank charges, fee deductions, omissions, funds confiscated by the beneficiary bank/correspondent bank/government/agent.
• On amendment of payment-order details, charges and change in conversion rates shall be borne by the remitter due to incorrect or incomplete information given by him/her.
• Lulu does not give any guarantee on the exact time required for funds to be credited to the beneficiary’s account.
• Back-end charges or any other bank charges at foreign correspondent banks for money transfers if any is deducted from the amount payable to the beneficiary
• Minimum bank charges will have to be paid by remitter, prior to processing the inquiry on non-receipt of funds.
• Lulu will not collect/deduct any form of charge from the remitter, if payment-order process resulted in an error at the hands of its officials or bank or agent
• Cancellation of payment order requires remitter’s written notification, valid reason and should be produced along with original payment order receipt.
• Refund shall be provided once the stop-payment is confirmed (or) funds are received back from the correspondent bank or its agent.
• On successful cancellation of Payment order, the funds will be paid back to remitter at (prevailing) Buying rate after deducting correspondence and banking charges, Customer in person presence at branch will be required.
• Any Fund Transfer transaction complaint shall be placed through the provided channels within a maximum period of 14 days from the date of transaction.
• All refunds will be in UAE Dirhams (AED)
• Please count your money before leaving the counter. We will not be responsible for any claims whatsoever afterwards.
• Transfers will be considered as executed unless any claim contrary to this is received from the remitter within 15 days from date of remittance
• Refund against cancelled transfers or any other remittance transactions returned unpaid for whatsoever reason will be made at prevailing buying rate or purchase rate whichever is lower
• All transactions will be subject to the AML/CFT laws, regulations, standards and policies issued by the Central Bank of UAE and other international organizations/bodies.
• It is the Customer’s responsibility to safeguard his login credentials, all transactions submitted through the Customer’s online profile will be considered as submitted by the Customer
• The terms and Conditions of Western Union (WU) shall be applicable for all WU transactions. For inquiries please visit www.westernunion.com
• In accordance with CBUAE standards, our Key Facts Statements are available across all our branches and on our website. Upon registration and/or proceeding with a transaction, you consent to and confirm that you have read the Key Facts Statement and clearly understand all the information and references provided therein.

By applying for and using the Lulu Exchange Services at the Branch or online, You acknowledge and accepts these T&C’s and any supplementary terms and conditions that may from time to time be in force