Royal Electronics Inc.

   March 3, 2024
Terms and conditions

  • Funds availability and method of payment: Availability of funds will normally be picked up by the recipient in his/her local currency and will definitely be paid in cash. The local equivalent of the principal amount sent in dollars should be collected with no additional charge deducted. Thus the sender takes care of the charges and all other related cost.
  • Identification Requirement: It is important that the features of the new method are such that:
    • Sender: In order to know our client properly all funds sent exceeding $2,500 - 9,999 requires a recording of government issued identification card (e.g. SIN#, Drivers License) or proper documentation of the address (residential) and phone number. A large transaction report will be filled with all transactions exceeding $10,000 and all necessary documentation will be required.
      Please note, all suspicious transactions will be reported to Financial Analysis and Reporting Centre of Canada (FINTRAC).
    • Receiver: In order to protect us and the recipient, we require funds to be picked up with an identification card (e.g. voter's ID card, passport, driver's license etc) and the secret code . At senders own discretion would we allow funds to be picked without the requirement but a Text message and an answer will be added instead. In this case we are not liable for any misunderstanding or whatsoever.
  • Refunds: Full principal amount are being paid back if cancelled within the same day but 1% fee will be deducted from the principal if cancellation is been made after the initial day sent. Transactions not pickup or cancelled after one year will attract an administration charge of ₵2 (Canadian funds) per day not exceeding $50 or 45%of the principal starting from the date sent deducted from the principal and the balance paid out to the actual sender. (identification required)
  • Limitations and liability: On our part, we will try to provide the best customer service satisfaction within our reach and we request "YOU" (senders and receivers) do your part too. We require that all senders inform receivers of the exact funds to be retrieved and receivers on their part count the money paid out before leaving the premises. We do not take liability on insufficient funds reported after leaving the pay-point premises. Thus problems like this should be dealt with the teller just as funds are been paid out. In no event shall Canafri Royal Electronics and it's agents be liable for damages exceeding $500 Canadian dollars.
  • Currency Exchange: Payment will always be in local currency. A currency exchange rate will be applied and thus Ghana Cedis will be converted to a foreign exchange rate set by Canafri Royal Electronics Inc. Any difference between the rate given to customers and the rate received by Canafri Royal Electronics Inc will be kept by Canafri Royal Electronics Inc and any other charges that may be applied.



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