Fees and Charges

1. Scope of this Fees and Charges Disclosure

This disclosure explains how Kingscross Money Remittance Ltd may price money-transfer, foreign-exchange and related services for individual and business customers.

It should be read together with the Terms and Conditions, the transaction summary, the applicable quote, the Privacy Notice and any corridor-specific or service-specific disclosure presented before confirmation.

2. Pricing principles

Kingscross should apply the following principles:

• pricing should be presented before the customer confirms the transaction;
• the customer rate should be clearly identified;
• any separate Kingscross fee should be shown as a separate line item;
• the estimated recipient amount should be shown where reasonably possible;
• known third-party deductions should be disclosed or clearly described;
• the total amount payable should be visible before confirmation;
• fees should not be hidden in unrelated descriptions or misleading wording.

3. Foreign-exchange rate

The customer foreign-exchange rate is the rate used to convert one currency into another for a specific transaction.

The customer rate may be influenced by:

• the underlying market or reference rate;
• the currencies being bought and sold;
• the transaction amount;
• the corridor and destination;
• market liquidity and volatility;
• the funding and payout method;
• partner and settlement costs;
• the Kingscross commercial margin.

4. Exchange-rate margin

The customer rate may include a margin between the underlying market or reference rate and the rate offered to the customer.

Where Kingscross includes its commercial return entirely within the customer rate, no separate foreign-exchange fee may be charged.

The transaction summary should show the exact customer rate applied. Website tickers, calculators and examples are indicative only and are not binding transaction quotes.

5. Money-transfer fees

A separate transfer fee may apply depending on:

• the amount sent;
• the destination country or corridor;
• the sending and receiving currencies;
• the funding method;
• the payout method;
• the urgency or service level;
• whether the customer is an individual or business;
• whether special or negotiated pricing applies.

Any Kingscross transfer fee should be displayed before confirmation.

6. Funding-method charges

Funding methods may include bank transfer, Paybill, card, mobile-money or another approved channel.

Kingscross may charge a different fee depending on the funding method where that method creates different banking, card, collection, reconciliation, fraud or operational costs.

A customer’s own bank, card issuer or payment provider may separately charge the customer. Such a charge is outside Kingscross’s control unless expressly included in the transaction summary.

7. Payout-method charges

Payout methods may include bank account, mobile wallet, eligible card, cash collection or another approved method.

Some payout methods may attract a different Kingscross fee or a charge imposed by the receiving institution. The customer should be informed before confirmation where the charge is known or reasonably foreseeable.

8. Third-party deductions and intermediary charges

Third parties may impose charges that Kingscross does not control, including:

• correspondent-bank charges;
• intermediary-bank deductions;
• recipient-bank charges;
• mobile-money operator charges;
• card-network or card-issuer charges;
• cash-payout or local-delivery charges;
• taxes, duties or government levies.

Where the exact charge is not known in advance, Kingscross should warn the customer that the recipient may receive less than the displayed estimated amount.

9. Quote validity and expiry

An FX quote should identify its quote reference and validity condition. A quote may expire if:

• funding is not received within the stated period;
• the customer does not confirm the quote in time;
• funds are received after the applicable cut-off time;
• the payment cannot be matched to the correct reference;
• the amount funded differs from the quoted amount;
• the transaction is delayed by incomplete verification;
• market conditions or partner availability materially change.

If a quote expires, Kingscross may issue a new quote at the then-current rate.

10. Changes to rates and fees

Kingscross may change standard rates, margins or fees for future transactions due to market, partner, banking, regulatory, tax, operational or commercial changes.

A pricing change should not normally alter a transaction that has already been accepted and funded, unless:

• the quote expired;
• the customer funded an incorrect amount;
• an obvious system or pricing error occurred;
• a legal or regulatory requirement applies;
• the customer agrees to a replacement quote.

11. Cancellation and amendment costs

A customer should request cancellation or amendment immediately. A charge may arise where Kingscross or a partner has already incurred a cost.

Possible costs include:

• bank recall or amendment charges;
• partner cancellation charges;
• currency conversion or reconversion loss;
• intermediary-bank deductions;
• reasonable investigation or recovery costs where lawfully chargeable.

Kingscross should explain any deduction it controls before completing the refund where reasonably possible.

12. Refund and returned-transaction costs

A returned or refunded transaction may not equal the original amount paid because of:

• exchange-rate movements;
• completed currency conversion;
• third-party deductions;
• bank return charges;
• recipient-bank or intermediary fees;
• lawful Kingscross charges already earned or incurred.

Refunds should normally be made to the original verified funding source, unless another lawful and verified method is required.

13. Unmatched, underpaid and overpaid transactions

A payment may be unmatched where the customer uses an incorrect reference, pays from an unrelated account, sends the wrong amount or uses an unapproved funding method.

In such cases, Kingscross may:

• delay the transaction while investigating;
• request additional information;
• issue a revised quote;
• return the funds;
• deduct a lawful bank or recovery charge where applicable.

14. Business and negotiated pricing

Business customers may receive negotiated pricing based on expected volume, corridor, funding method, payout method, operational requirements, risk profile and contractual commitment.

Negotiated pricing may be documented in:

• a written pricing schedule;
• a corporate agreement;
• a corridor-specific rate arrangement;
• a transaction-specific quote.

Where negotiated terms apply, they take priority for the relevant service or transaction.

15. Agent and branch charges

An approved Kingscross agent or branch must not charge an undisclosed fee.

Any fee collected by an agent on behalf of Kingscross should appear on the official transaction record or receipt.

Customers should not pay an agent, employee or representative through a personal account, private wallet or unofficial channel.

16. Taxes, duties and government charges

Taxes, duties, levies, withholding amounts or statutory charges may apply depending on the transaction, customer, currency, destination or underlying business activity.

The customer remains responsible for their own tax, customs, import, export and reporting obligations unless Kingscross is legally required to deduct or account for an amount.

17. Transaction summaries, confirmations and receipts

The transaction summary or receipt should identify, where applicable:

• transaction or quote reference;
• date and time;
• send amount and currency;
• receive amount and currency;
• customer exchange rate;
• Kingscross fee;
• total paid;
• beneficiary or settlement destination;
• transaction status.

Customers should review the transaction summary promptly and report suspected pricing or calculation errors without unreasonable delay.

18. Current pricing structure to be completed before launch

19. Pricing questions and complaints

A customer who believes a rate, fee or deduction was incorrect should provide:

• their name and contact details;
• the transaction or quote reference;
• the date and amount;
• the rate or fee disputed;
• any receipt, screenshot or supporting evidence.

Kingscross should investigate the pricing record, quote, funding time, partner charges and transaction history and respond through the Complaints Procedure.

20. Contact details