GENERAL TERMS AND CONDITIONS

 

Pursuant to Act no. 202/1995 Z.z. (Foreign Exchange Act), the Company has been granted a foreign exchange license permitting the Company cash foreign currency trading.

 

Article I

ESSENTIAL PROVISIONS

 

1. The purchase and sale of foreign currency is based on current issued exchange rates.

2. The Company DOES NOT accept credit/debit card payments.

3. Exchange rates might change during day.

4. After obtaining cash, Clients are obliged to check and count the received money, as later claims will not be accepted.

5. Exchange Office is not obliged to change bills for coins (and vice versa), or larger bills for smaller ones in foreign currency as well as in Euros.

6. The Company changes only whole banknotes that are presented by a Client. For example, if a Client presents 100$ bill and wants to exchange 20$ the Company can exchange the whole 100$, as it does not give change back in foreign currency.

7. Exchange Office is open:

               a. Mon-Fri 10:00-16:00

               b. out of business hours, please contact us by SMS, Whatsapp, Facebook

               

Article II

CONDITIONS GOVERNING CURRENCY EXCHANGE

 

1. Currency exchange is free of charge (0% commission).

2. Clients will receive pre-trade information consisting of info about currency, if they sell or purchase currency, and how much Euros they would pay or receive. This information is issued in two duplicates - with one received by the Client and the other kept by the Company. The Client confirms by his signature that he was informed about the conditions of the trade and that he or she agrees with it.

3. For trades above EUR 1,000 a government issued ID is required. 

4. The Company does not buy foreign currencies in coins with the exception of the Czech crown.

5. The Company reserves the right to reject damaged banknotes, banknotes with stamps and/or with written text, and not to perform currency exchange unless the banknotes are checked by the operator.

6. The company reserves the right to reject banknotes that are in preclusion or banknotes that are nearing the preclusion.

 

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Article III

EFFECTIVENESS OF BUSINESS CONDITIONS

 

1. These Terms and Conditions come into effect on 01.01.2017, and were updated 08.05.2018.

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WHAT DOES NO COMMISSION MEAN?

 

It means that we DO NOT CHARGE any additional fee to the exchange rates offered by our company. It DOES NOT mean that clients get the exchange rate found on Google, or websites such as www.xe.com. Both Google and XE have disclaimers on their webpages about the exchange rates.

 

Specifically, Google states: “Google cannot guarantee the accuracy of the exchange rates displayed. You should confirm current rates before making any transactions that could be affected by changes in the exchange rates.” source.

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Similarly, XE informs users in the following manner: "The mid-market rate is the mid-point between the rate a currency can be bought or sold at. These rates are not available to customers - NOT EVEN XE CAN BUY CURRENCY AT THIS RATE.

These rates are real time and are updated every 60 seconds during trading hours.

Our free information services always list the mid-market rate because it indicates the value of a currency that’s not weighted towards buying or selling." source.

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