How ARMF Prices Its Remittance Service — Australia

Pricing transparency

ARMF aims to give customers material pricing information before a remittance is confirmed so that the customer can understand the quoted cost and the amount expected to reach the recipient. The final price for a transaction is the price displayed in the applicable ARMF transaction flow and accepted by you, subject to quote expiry and third-party charges described below.

What you should see before confirming a transfer

Before you confirm a transfer, ARMF aims to display the material transaction information available to it, including:

• the amount you wish to send;
• the sending and receiving currencies;
• the exchange rate quoted for the transaction;
• any ARMF transfer, service or conversion fee charged separately;
• the total amount payable by you; and
• the amount expected to be delivered to the recipient.

How ARMF may earn revenue

Depending on the transaction, ARMF may earn Service Revenue through one or more of the following: a transfer or service fee charged separately; a foreign-exchange margin or spread reflected in the retail exchange rate quoted to you; or another ARMF charge that is disclosed before you confirm the transfer. ARMF does not treat the principal amount being remitted as its revenue.

If ARMF describes a rate as a mid-market, wholesale, benchmark or reference rate, ARMF will describe the relevant methodology or pricing treatment at the appropriate point in the customer journey. A retail exchange rate may differ from market reference rates and can include a margin or mark-up.

Factors that may affect a quote

A quoted exchange rate, fee or overall price may vary depending on factors such as:

• the currencies and destination corridor;
• foreign-exchange market movements and liquidity;
• the amount being transferred;
• the funding or payment method;
• banking, settlement, payment-network and partner costs;
• operational, fraud-prevention, compliance and risk-management costs;
• the time and date of the transaction; and
• any discount, promotion, negotiated business arrangement or pricing tier that applies.

Third-party charges

Correspondent banks, recipient banks, payment networks, mobile-wallet providers or other independent institutions may deduct or impose charges that ARMF does not retain and may not control. Where a third-party charge is known or reasonably estimable, ARMF aims to disclose or explain it; however, an overseas or recipient institution may impose a charge that is not known to ARMF before the transfer. Such a charge may reduce the amount ultimately received.

Quote validity and repricing

A quote is valid only for the period shown. If ARMF does not receive the required funds, complete required checks or accept the transaction before the quote expires, ARMF may require you to accept a new quote. ARMF will not retrospectively change an accepted transaction price merely because the market later moves, except where the applicable Terms expressly permit an adjustment or applicable law requires it.

Comparing remittance prices

When comparing remittance providers, customers should consider the total price, including both the retail exchange rate and fees, and the amount expected to be received by the beneficiary. A service described as having no separate transfer fee may still earn revenue through the exchange-rate margin. ARMF aims not to describe a transaction as "fee free" in a way that obscures a material exchange-rate margin or other charge.

Pricing questions and complaints

If you believe a quoted or charged amount does not match the price you accepted, contact ARMF with the transaction reference and relevant details. Pricing complaints are handled under ARMF's Complaints Policy, without limiting any statutory rights that apply.

Contact ARMF

ARM Financial Services Pty Ltd | ABN 35 659 595 570 | ACN 659 595 570

Suite 110, Level 1, 530 Little Collins Street, Melbourne VIC 3000, Australia

Email: support@armf.com | Phone: +61 3 8679 2233 | Website: armf.com