Privacy Policy
Terms and Conditions
The following Terms and Conditions are IMPORTANT because they govern your access to and use of the www.Chengxin.com.au website (“Website”) and our Services as defined below.
The Website are owned and operated by Chengxin Currency Exchange 55 673 534 917 (“ChengxinCurrency Exchange”，”Chengxin”, “we”, “us”, “our”).
PLEASE READ THESE TERMS AND CONDITIONS AND OUR PRIVACY POLICY CAREFULLY. BY ACCESSING OR USING THE WEBSITES, YOU ARE TAKEN TO HAVE AGREED TO BE BOUND BY THESE TERMS. IF YOU DO NOT AGREE TO THEM, YOU MUST IMMEDIATELY CEASE ACCESSING AND USING THE WEBSITES.
If you breach any provision of these Terms and Conditions then you right to access and use the Websiteswill immediately cease.
Please note that all information and content available on the Websites (“Content”) is frequently updated.
We may vary these Terms and Conditions at any time and at our discretion and so we recommend that you refer to these Terms and Conditions each time you use the Websites. The amended Terms and Conditions will be effective from the date they are published on Websites. You continued use of the Website will constitute your acceptance of the amended Terms and Conditions.
1. About Our Services
1.1. Foreign Exchange Services
We are an Australian based remittance service company (AUSTRAC Registration Number: 100858860-001).
We provide foreign currency remittance services for both individual clients and business clients (“you”, “your”). We facilitate the remittance of one currency for another upon your request to the person you nominate (“Receiver”) at an agreed exchange rate.
We offer a wide range of currencies available, including Australian dollar (AUD), U.S. dollar (USD), Euro (EUR), Japanese Yen (JPY), New Zealand dollar (NZD), Chinese Yuan (CNY), Singapore Dollar (SGD), Great British Pound (GBP).
Your eligibility for particular products or services is subject to Chengxin Currency Exchange’s final determination and acceptance. Chengxin Currency Exchange may discontinue or make changes in the information, products or services described herein at any time.
1.2. No Financial Advice
We do not offer either general or personal financial, investment or other advice. The information on the Website and shall not be construed as creating a fiduciary, financial or other relationship between ChengxinCurrency Exchange and you. If you want financial advice, you must seek specific advice tailored to your circumstances.
Any statements or comments made are not a recommendation that a particular course of action is suitable for you. Nothing on this Website amounts to an offer to you.
1.3. External Links
The Website may contain links to other websites which are not under the control of Chengxin Currency Exchange. We do not take responsibility for the content of any externally linked sites, nor do we make representations or warranties whatsoever about any externally linked sites. A link does not imply endorsement by or sponsorship by or affiliation with Chengxin Currency Exchange, nor does it suggest any relationship between Chengxin Currency Exchange and the organisation linked.
2. Capacity
To use our service, you must
1) meet the age requirement and be under no legal disability or incapacity,
2) have the power to enter a binding contract with us and not barred from doing so under any applicable law,
3) inform us if you are a Politically Exposed Person or an immediate family member of Politically Exposed Person, and
4) use it for legitimate purpose.
If you, either individual or business client, authorise any other person (“authorised person”) to act on your behalf, we will rely on instructions received from your authorised person and you will be bound by these instructions unless you withdraw your authority from that authorised person. You must give us at least 24 hours’ notice in writing should you intend to withdraw or vary that authority.
3. Registering
To register with Chengxin Currency Exchange, you need to provide required identifying information about yourself. After your account is registered.
To create an account with Chengxin Currency Exchange, you need to provide required identifying information about yourself. After your account is registered, you will be able to obtain a unique account number.
3.1 Identity Verification
For the purpose of complying with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) and other subordinate instructions (“AML/CTF Laws”), we are required to obtain, verify and record information that identifies you. Please refer to the Privacy Policy relating to the collection and use of your information. We reserve the right to request additional information or documents from you at any time to verify your identity and/or to comply with regulatory or third party requirements.
Failure to provide such information or our inability to verify the accuracy of the information provided may result in, at our sole discretion, denial of your application to use our Service, and/or any other action as we deem appropriate.
You must provide us with accurate, complete and up-to-date information. It is your responsibility to inform us of any changes to your information or circumstances.
3.2 Management of Contact Details
In all cases, you agree that:
1) your communication software account (Email/WhatsApp) must be used by you only;
2) you are entirely responsible for keeping your communication software account secure and confidential and will not disclose these to any third party;
3) you are entirely responsible for any and all activities conducted via your communication software account;
4) Chengxin Currency Exchange will be entitled to assume that anyone who uses your communication software account is you, accepts no responsibility for misuse or unauthorised access and will not be liable for any loss you incur due to any misuse or unauthorised access;
5) any breach of these Terms and Conditions under your communication software account will be treated as a breach by you; and
6) you must notify us in writing immediately if you know or reasonably suspect that your communication software account is lost, stolen, misappropriated or unauthorised used.
4. Placing an Order
4.1 Legal Binding
We accept you entering into an order via Email or in WhatsApp, or other nominated communication methods agreed by Chengxin Currency Exchange and clients. By placing an order, you are giving us instructions to enter into a transaction. The Transaction is legally binding on you as and from the time when we receive your instructions pursuant to this Clause 4. Once a transaction is legally binding, you may not terminate the transaction.
4.2 Ownership of Funds
You must be the beneficial owner of any funds that are intending to transfer. We may reasonably request evidence of ownership of the funds.
4.3 Ordering
Once you place an order by Email/WhatsApp, you must make sure you send to our company’s Email/WhatsApp account. The transaction is legally binding at the time when we process your email.
We will send you confirmation of order details and receiving account details. This is for correction purpose only. If there is any error, you must notify us immediately. Otherwise, the details will be deemed to be correct.
4.4 Accurate and True Information
For each order you make with us, you must make sure that the details in the order are accurate and true in all aspects. The details include but not limited to, total transaction amount, your details and receiver’s banking details. We do not check the details for you and will not be held liable for loss arising from the incomplete and / or inaccurate details provided to us. Subject to this Clause 4 and Clause 6.1, once an order has been submitted, you will generally not be able to change any details contained in your order. You must not use our Service in a fraudulent manner.
4.5 Foreign Exchange Quote
You acknowledge that a foreign exchange rate given upon your request, does not constitute an offer to enter into a contract. We are not obliged to accept your offer unless you and Chengxin Currency Exchange both agreed.
4.6 Not to Strangers
You agree that you will only use our service to send money to people that you know personally. You agree that you will not pay money to strangers.
5. Exchange Rates, Fees and Charges
We reserve the right to make changes to the fees and charges.
5.1 Exchange Rate
Currency exchange rates are always fluctuating. You must be aware that the rates on the Website are a guide only, there is a possibility that rate is subject to change at the time of ordering or quoting due to exchange rate fluctuations.
The exchange rate agreed between you and Chengxin Currency Exchange shall be the applicable rate to the order.
5.2 Service Fee
We charge a small fixed service fee on a certain transaction. This service fee is a separate fee and does not form any part of your exchange funds, payable for each transaction.
5.3 Other fees or charges
These include but not limited to:
International bank transfer fee: may be deducted from the amount of transfer. We have no control over it and will not be liable for such fees.
6. Order Confirmation
6.1 Error Correction Mechanism after Submission
We shall send you an order confirmation once you have submitted an order. The order confirmation provides an opportunity to correct any error only. If you place an order over the counter in store or by messaging apps, you will be giving the confirmation. You must review the confirmation immediately and notify any changes you wish to make. For orders made by other methods, if you
wish to make changes, you must contact us WITHIN 24 HOURS on receipt of the order confirmation. Otherwise, the order details are deemed to be accurate.
6.2 Accept or reject order at our sole discretion
We may, at our sole discretion, accept or reject any order we receive.
7. Payment & Collection
7.1 Principal amount and service fee must be received in cleared funds and in full
You must send us the full amount of the principal money you wish to exchange to our nominated bank account, together with any service fee or any third party’s charges, before we execute a transaction. Please note that the funds must be cleared before we will credit your Beneficiary Account. We reserve the right to requote the exchange rate.
7.2 Beneficiary Account Details
You must provide us with full details of beneficiary account, including beneficiary’s banking details, identity documents, full name and address. We rely on you to provide us with correct bank account details. We will not be liable or responsible if any funds are not received due to incorrect banking details provided by you. You must notify us IMMEDIATELY of any change to your beneficiary’s account details.
7.3 No Interest paid
You acknowledge that you will not receive any interest or other earnings on any funds held by us.
7.4 Processing time
The transaction will be processed within 3 business days, subject to Clause 7.1. Actual receipt of the money transferred into your nominated beneficiary account may take longer, because it depends on the intermediary banks involved.
8. Your right to cancel
Once you have ordered a transaction with us and the transaction is legally binding on you (please see Clause 4 for more information), you cannot cancel or terminate it. As soon as we received your order, we will start processing the transaction, including buying the currency.
If you breach any of your obligation (including the events prescribed by Clause 9.1) and we will terminate or cancel the transaction as a result of your breach, you will be liable for the amount of loss. Please see Clause 9.4 for detailed information on “payment of loss”.
9. Our right to reject, suspend or cancel
9.1 Events
You acknowledge and agree that if one of the following events occurs, we may refuse, suspend or cancel any or all transactions with us, without prior notice to you:
1) you fail to send us the full amount of the principal money on the due date;
2) you fail to provide material information upon our request, including your source of funds. purpose of transfer, etc.;
3) if we reasonably believe that any document or information provided by you is inaccurate or misleading;
4) if it becomes or may become illegal for us to perform our obligations under this Terms and Conditions;
5) if bankruptcy or winding up proceedings are commenced against you;
6) in the event of your death or loss of mental capacity;
7) you fail to comply with one or more of the Terms and Conditions;
8) there is an unresolved dispute between you and us; or
9) when we consider it is necessary to do so.
9.2 Default notification
If you become aware of any event referred to in Clause 9.1, you must notify us immediately.
9.3 Consequences
If any of event referred to in Clause 9.1 take place, we shall, at our absolute discretion, be entitled to and at your expense:
1) refuse to proceed with the transaction;
2) suspend any orders that are processing;
3) cancel any outstanding orders;
4) close out any or all of your transactions; and
5) charge you with the amount of loss.
9.4 Payment of loss
The amount of loss includes the loss incurred between purchasing and buying back the currency, service fee, and any other expenses / fees incurred by us or the third party in relation to your transaction.
The amount of loss will become liquidated damages by you to us and is payable to us within 7 calendar days on demand. If we hold your funds from any transaction, we will deduct the total amount of loss. If it is not paid or not fully paid, we will also be entitled to recover from you any amount that remains payable. If circumstance arise which entitle us to recover the loss, we are entitled to recover from you the loss as a debt and you shall pay our costs for recover of the loss, including interest and legal cost.
9.5 Refund to same account
The refund will only be made upon your written request. For your security, the refund can only be made to the same account from which the payment originated.
10. Misdirected Funds
10.1 Mistake made by you
We rely on you to provide us with correct bank account details. If funds are sent to the wrong accounts provided by you in accordance with your instruction, we will not be liable or responsible either to recover the funds or to resend the funds to the correct Beneficiary Account. You will need to place a new order.
10.2 Mistake made by us
If your funds are sent to the wrong account as the result of our mistake, we will take urgent action at our own expense to recover those funds subject to your immediate assistance. This shall be the full extended of our liability to you.
10.3 Overpayment
If we send you the funds more than the amount you are expected to receive which is clearly a mistake on our part as the result of a technical or human error, this is not binding on us. You must notify us as soon as you are aware of the mistake and reimburse the difference between the amount actually paid and the amount payable by us.
10.4 Legitimate Use
You must not violate the Terms and Conditions or any applicable laws, statute, ordinance, contract or regulations when using our service. The use of this service for any of the following activities is prohibited and considered a violation of the Terms and Conditions, including but not limited to: sexual materials or services; gambling activities; fraud; money laundering; support for terrorist activities; buying and selling of tobacco, military fire, drugs or other controlled substances ; or remit money to any recipient who violates the Terms and Conditions.
If you use this service for any illegal actions, we have the right to report to relevant law enforcement agencies. If a transaction is suspected to be used for purposes prohibited by this Terms and Conditions, we and/or our partner institutions have the right to cancel the transaction and close out your account at our sole discretion. You confirm that you are responsible for your behaviour in using the service in violation of the Terms and Conditions.
11. Limitation of Liability
11.1 No liability for Delays
While we will use our reasonable endeavours to ensure the timely transmission of funds, there may be delays caused by reasons beyond our control. This includes invalid account details provided by you, system or operational failure, technical or administrative problems experienced by the intermediary banks involved, delay caused by accident or act of god, and so forth.
We shall bear no responsible or liable for any of your losses or damages whatsoever incurred in any way, as a result of any delays in the transmission of funds.
11.2 No liability for Technical Problems
Subject to legislation, we exclude liability for any delay, inaccessibility, interruption or outage of the Website and/or any loss or corruption of data.
We are not liable to you or anyone else if interference with or damage to your computer systems occurs in connection with use of this Website. You must take your own precautions to ensure that whatever you select for your use from this Website is free of viruses or anything else (such as worms or trojan horses) that may interfere with or damage the operations of your computer systems.
11.3 No Liability for Computer Hardware or Systems
There are risks associated with utilising an internet-based transaction. This includes, but not limited to, the interference with or damage to the operations of the computer hardware, the cyber scam of the equipment, the disconnection of internet. As we have no control over the configuration of the computer equipment or reliability of its connection, we will not be responsible for any failures caused when trading via the Internet.
12. Warranties and Indemnities
12.1 Warranties
If you choose to use or access our Websites, you agree that you do so voluntarily and at your sole risk. We make no warranties or representations, express or implied, about the Websites or any of their content.
12.2 Indemnities
You must indemnify, to the maximum extent permitted by law, and to keep Chengxin Currency Exchange indemnified from and against any claims or liabilities arising from or in connect with your use or access of the Websites and/or any breach of the Terms and Conditions by you or any third party. This is a continuing obligation, continues after the Terms and Conditions end.
13. Intellectual Property
Our intellectual property, including but not limited to copyright in all content of the Websites, trademark, patent, trade secret, logo, domain name and any other intellectual property are
the sole property of Chengxin Currency Exchange. You must not display, use, reproduce or exploit any of our intellectual property for public or commercial purposes.
You agree that you will not use our intellectual property:
a) in any manner not expressly permitted by the Terms and Conditions; or
b) in a manner which is likely to cause confusion or damage to the reputation of Chengxin Currency Exchange.
Your use of and access to any of our intellectual property does not grant or transfer to you any rights, title or interest to our intellectual property.
14. Privacy
We respect your privacy and handle your information in accordance with our Privacy Policy. Your use of the Website is at all time subject to the provisions of our Privacy Policy.
15. Entire Agreement
The Terms and Conditions, together with Privacy Policy and amendments (if any), constitutes the entire agreement between you and Chengxin Currency Exchange and supersedes any and all prior and contemporaneous understandings and agreements pertaining to the Service.
16. Translation
The Terms and Conditions are made in English and Chinese. In the event of a conflict between the English version and the Chinese version, the English version shall prevail.
17. Jurisdiction
The Terms and Conditions are governed by the laws of Victoria, Australia.
18. Interpretation & Definitions
18.1 Whenever used in this Terms and Conditions, or any ancillary document hereto, the following terms, unless the subject matter or context otherwise requires, shall have the following meanings:
18.1.1 “Amount of loss” has the meaning attributed to in Clause 9.4;
18.1.2 “Authorised person” means a person who is authorised to bind you under these Terms and Conditions;
18.1.3 “AUD” means Australian Dollar;
18.1.4 “Beneficial owner” means the legal owner of an asset, either directly or indirectly, including the assets may be held in another name, for example trustee;
18.1.5 “Business day” means a day on which we and trading banks are open for business that shall not include a Saturday, a Sunday, a public holiday in Australia;
18.1.6 “Close out” has the meaning attributed to in Clause 9.3;
18.1.7 “Closing out date” means the date on which any or all of your transactions have been closed out;
18.1.8 “Exchange rate” means the price of one currency in terms of another currency;
18.1.9 “Immediate family member” means someone’s spouse, de-facto partner, dependent child/ren, a legal guardian;
18.1.10 “Messaging apps” means a software program that allows client to send and receive information, including but not limited to WeChat, WhatsApp, Signal, Facebook Messenger, text messages, etc.;
18.1.11 “Chengxin Currency Exchange account” means an account we establish in your name for making and recording transactions;
18.1.12 “Politically Exposed Person” means an individual who is or has entrusted with a prominent public position or function in a government body or international organisation, in or outside Australia;
18.1.13 “Principal amount” means the money you are exchanging;
18.1.14 “Service” has the meaning attributed to in Clause 1; and
18.1.15 “Terms and Conditions” means this Terms and Conditions as amended from time to time and any other documents annexed or incorporated by reference.
18.2 Words importing the singular number include the plural and vice versa.
18.3 Words importing the masculine gender include the feminine and neuter genders.
18.4 Reference to a person or individual includes bodies corporate, unincorporated associations, partnerships, trusts and individuals.
18.5 The division of the Terms and Conditions into articles and insertion of headings is for convenience and reference only and shall not affect the construction or interpretation of this Terms and Conditions.
Privacy Policy
Chengxin Currency Exchange (“Chengxin”, “we”, “us” or “our”) is committed to protecting all our users’ (“you” or “your”) privacy and Personal Information in accordance with the Privacy Act 1988 (Cth). This Privacy Policy describes how Chengxin:
1. collects, processes, stores and discloses your Personal Information through the Chengxin website and applications;
2. uses information regarding IP Addresses and cookies;
3. may disclose your Personal Information to third parties;
4. assists you in accessing, correcting, updating your Personal Information; and
5. implements security measures to prevent loss, misuse or alteration of Personal Information under our control;
6. handles complaints about a breach of our privacy policy and of privacy laws.
Consent
By providing Personal Information to us and using our services, you consent to our collection, use and disclosure of your Personal Information in accordance with this Privacy Policy and any other arrangements that apply between us. We may change our Privacy Policy from time to time by publishing changes to it on our website. We encourage you to check our website periodically to ensure that you are aware of our current Privacy Policy.
What information does Chengxin collect?
"Personal Information" is information which identifies you personally or by which your identity can reasonably be ascertained. This may include your name, age, gender, postcode, address, e-mail address, and other contact details. It may also include financial information.
When you apply for the registration for the Chengxin Online services, you are aware that we collect some necessary personal information from you. This can include a broad range of information ranging from:
· your name;
· age or date of birth;
· mailing or street address;
· email address or other contact information;
· various forms of government issued identification (driver’s licence, national identification card, medicare, passport and etc.);
· nationality;
· bank account details;
· Geo location information;
· details of the products and services we have provided to you or that you have enquired about, including any additional information necessary to deliver those products and services and respond to your enquiries;
· information you provide to us through customer surveys; or
· any other Personal Information that may be required in order to facilitate your dealings with us.
We may also collect Personal Information about you from recordings of telephone conversations between us and you (or your representatives), written correspondence and from publicly available registers.
· We may collect these types of Personal Information either directly from you, or from third parties. We may collect this information when you:
· communicate with us through correspondence, chats, email, or when you share information with us from other social applications, services or websites;
· search publicly available registers; or
· interact with our sites, services, content and advertising.
How does Chengxin use this information?
We may collect, hold, use and disclose your Personal Information for the following purposes:
· to enable you to access and use our website and services;
· to operate, protect, improve and optimise our website and services, business and our users’ experience, such as to perform analytics, conduct research and for advertising and marketing;
· to send you service, support and administrative messages, reminders, technical notices, updates, security alerts, and information requested by you;
· to send you marketing and promotional messages and other information that may be of interest to you, including information sent by, or on behalf of, our business partners that we think you may find interesting;
· to administer rewards, surveys, contests, or other promotional activities or events sponsored or managed by us or our business partners;
· to comply with our legal obligations, resolve any disputes that we may have with any of our users, and enforce our agreements with third parties; and
· to consider your employment application.
To whom do we disclose your personal information?
We may also disclose your Personal Information to:
· our employees and related bodies corporate;
· a trusted third party including but not limited to identification verification service providers, transaction monitoring service providers, payment service providers, remittance service providers, or other third party service providers that provide support to our services to you;
· our existing or potential agents, business partners or partners;
· anyone to whom our assets or businesses (or any part of them) are transferred;
· specific third parties authorised by you to receive information held by us; and/or
· other persons, including government agencies, regulatory bodies and law enforcement agencies, or as required, authorised or permitted by law.
Disclosure of Personal Information outside of Australia
We may disclose personal information outside of Australia to identity verification services and cloud services located in Australia. We will, however, take reasonable steps to ensure that any overseas recipient will deal with such personal information in a way that is consistent with the Australian Privacy Principles.
Failure to provide information
If you do not provide Chengxin with all the required information, we may not be able to verify your identity, and as such, you may not be able to access certain features of our services.
How secure is my information?
Our systems are designed with security and privacy in mind. We have appropriate security measures in place to prevent any user information from being lost or used in an unauthorised way, altered or disclosed. We work to secure Personal Information by using encryption protocols and software. We constantly maintain and monitor procedural safeguards in connection with the collection, storage and disclosure of all users’ private information. We also limit access to users’ Personal Information to employees and third parties that need to use this information as part of our business procedures, such as transaction processing and identification verification.
Using our website and cookies
We may collect Personal Information about you when you use and access the Chengxin website. While we do not use browsing information to identify you personally, we may record certain information about your use of the Chengxin’s website, such as which pages you visit, the time and date of your visit and the internet protocol address assigned to your computer.
We may also use 'cookies' or other similar tracking technologies on our website that help us track your website usage and remember your preferences. Cookies are small files that store information on your computer, TV, mobile phone or other device. They enable the entity that put the cookie on your device to recognise you across different websites, services, devices and/or browsing sessions. You can disable cookies through your internet browser but our websites may not work as intended for you if you do so.
Links
The Chengxin’s website may contain links to websites operated by third parties. Those links are provided for convenience and may not remain current or be maintained. Unless expressly stated otherwise, we are not responsible for the privacy practices of, or any content on, those linked websites, and have no control over or rights in those linked websites. The privacy policies that apply to those other websites may differ substantially from our Privacy Policy, so we encourage individuals to read them before using those websites.
Accessing or correcting your Personal Information
You can access the Personal Information we hold about you by contacting us. Sometimes, we may not be able to provide you with access to all of your Personal Information and, where this is the case, we will tell you why. We may also need to verify your identity when you request your Personal Information.
If you think that any Personal Information we hold about you is inaccurate, please contact us and we will take reasonable steps to ensure that it is corrected.
Retention of Personal Information
We will hold your Personal Information only for as long as it is necessary for us to do so, having regard to the purposes described in this privacy policy and our own legal and regulatory requirements.
In general, personal information relating to your account is held for at least a period of seven years after your account is closed.
Similarly, we usually retain information about transactions on your account for a period of seven years from the date of the transaction. Personal Information which is collected for other purposes will be discarded in accordance with our policies in place from time to time.
Contact us and how to make a complaint?
If you believe Chengxin has not complied with the Privacy Act or this Privacy Policy when collecting, using and disclosing your Personal Information, please send email to contact@chengxin.com.au. Your complaint will go through the internal complaints resolution process, and we will respond with a dispute resolution within 30 days of you making the complaint.
Effective: December 1, 2023
