WeXchange – Terms and Conditions

  1. Introduction

These Terms and Conditions (“Terms”) govern your use of WeXchange’s services. By using our services, you agree to comply with these Terms.

  1. Eligibility

To access our services, you must:

  • Provide valid identification in accordance with AUSTRAC’s AML/CTF obligations;
  • Agree to customer verification checks, including use of the Document Verification Service (DVS), where applicable.
  1. AML/CTF Compliance

WeXchange is a registered currency exchange service provider under AUSTRAC and complies with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. We reserve the right to:

  • Collect personal and transactional data to meet our legal obligations;
  • Refuse, delay, or cancel transactions deemed suspicious or high-risk;
  • Report Suspicious Matter Reports (SMRs) to AUSTRAC;
  • Conduct Enhanced Customer Due Diligence (ECDD) in line with our AML/CTF program.
  1. Transaction Limits and Fees
  • Transactions are subject to the exchange rate as set by WeXchange.
  • We do not charge commission or service fees; however, rates may fluctuate based on market and our currency stock conditions.
  1. Order Placement and Collection
  • Online orders are subject to verification and availability.
  • You must collect your order in person with original identification. Third-party collection is not permitted.
  1. Cancellations and Refunds
  • The transaction may be cancelled subject to applicable exchange rates at the time of the cancellation.
  • Refunds are issued at our discretion and subject to applicable exchange rates at the time of refund processing.
  1. Customer Obligations

You must:

  • Provide true and accurate information;
  • Not engage in structuring, identity fraud, or any form of financial crime;
  • Notify us immediately of any changes to your identification documents or circumstances.
  1. Limitation of Liability

WeXchange is not liable for:

  • Exchange rate fluctuations;
  • Delays due to verification or regulatory requirements;
  • Losses resulting from unauthorised or fraudulent use of your identity or account details.
  1. Changes to Terms

We reserve the right to update these Terms without a point-to-point notice. Continued use of our services indicates acceptance of the updated Terms.

 

 

WeXchange – Privacy Policy

  1. What We Collect

We collect personal and sensitive information such as:

  • Full name, date of birth, contact details, and address;
  • Government-issued identification documents (e.g., passport, driver’s licence);
  • Transaction history, source of funds, and occupation details;
  • Electronic identification verification data (via DVS or other services).
  1. How We Collect It

We collect your information directly through:

  • Online and in-store order forms;
  • Identity verification platforms (e.g., DVS, third-party KYC providers);
  • Our transaction monitoring system.
  1. Why We Collect It

We collect your information to:

  • Comply with AML/CTF laws;
  • Verify your identity.
  • Fulfil your currency exchange orders.
  • Detect and prevent fraud, money laundering, and other unlawful activities;
  • Improve our service delivery and support.
  1. Disclosure to Third Parties

We may disclose your data to:

  • AUSTRAC and other regulatory bodies where legally required;
  • Identity verification providers (e.g., DVS， for more information on how your personal information is handled during this process, please refer to the IDMatch Privacy Statement.);
  • IT service providers that support our infrastructure.
  • Law enforcement where required by warrant or subpoena.
  1. Data Storage and Security

Your data is securely stored and protected through:

  • Encrypted servers;
  • Role-based access controls;
  • Secure internal and external data-sharing protocols.
  1. Access and Correction

You may request access to or correction of your personal information by contacting us via the details below. Requests will be handled in accordance with the Privacy Act 1988.

  1. Complaints

If you believe your privacy has been breached, please contact us. We will investigate your complaint and respond within a reasonable timeframe. If unsatisfied, you may escalate your complaint to the Office of the Australian Information Commissioner (OAIC).

  1. Contact Us

Email: melbourne@wexchange.com.au
Phone: +61 405 579 998
Address: Shop 6, 80 Collins St, Melbourne, VIC 3000