Legal

Terms and Conditions

These Terms and Conditions (Terms) govern your use of the goods and services provided by Lotus Foreign Exchange Limited (we, our, us, or Lotus), including Foreign Exchange Services and Remittance Services through our branches, website, mobile applications, Quick Order, phone-based transactions and by any other means (collectively, the Services).

Last updated: 28 September 2026

By accessing or using our Services, you agree to comply with and be bound by these Terms. If you do not agree to these Terms, you must immediately cease using the Services.

Please read these Terms carefully before using any of our Services. By using our Services, you acknowledge that you have read, understood, and agreed to these Terms.

1. Definitions

  • “App” means our mobile application(s), including country-specific Lotus FX apps where available.
  • “Customer”, “you” and “your” means the individual or entity requesting to use our Services.
  • “Foreign Exchange Services” means Lotus’ service of buying and/or selling foreign currency and includes online currency purchase and Quick Order services.
  • “Quick Order” means the website (and related) service that allows you to place an order for foreign currency for branch pickup or, where offered, delivery, including as a guest within applicable limits.
  • “Remittance Services” means Lotus’ service of transferring funds by a sender at one location to a beneficiary at another location, which includes MoneyGram, Western Union (where offered), Wire Transfer, and eWire products.
  • “Website” refers to our online platforms accessible at lotusfx.com and related country domains or portals we operate.

2. Services provided

2.1 Foreign Exchange Services

  1. Foreign Exchange Services are available at our physical branches. Online currency purchases and Quick Orders for pickup (and delivery where offered) can be accessed through our website and mobile app, and are covered in clauses 2.3 and 2.4. Foreign Exchange Services are subject to availability and applicable exchange rates which change constantly.
  2. The transaction is confirmed and binding when you make payment (or hand over the foreign currency).
  3. It is your responsibility to check the condition of the currency that you receive, and that you have received the correct amount, as it may not be possible to verify this after you leave our premises.
  4. We may allow you to place an order for foreign currency to be picked up at a later date. You may be required to pay a deposit and sign a contract to confirm your order. If you do not sign a contract, then the terms of clauses 2.3 / 2.4 shall apply as if your order was placed as an online currency purchase or Quick Order.
  5. We do not charge any commission for Foreign Exchange Services.

2.2 Remittance Services

  1. Remittance Services can be accessed through our website, mobile app, phone service, or by visiting a physical branch (availability may vary by country).
  2. We provide Remittance Services for sending funds through methods that may include:
    • MoneyGram: third-party MoneyGram global payment system. This is restricted to personal transfers only. Once initiated, the transaction is processed through the MoneyGram network and is subject to MoneyGram’s own terms and conditions.
    • Western Union: where offered, subject to Western Union’s own terms and conditions.
    • Wire Transfers: we use our partners to facilitate payments directly into overseas bank accounts. Available to personal and business customers. The transfer will be processed through a bank or financial institution, and the recipient may be subject to additional fees or charges. Online / app use may require customer onboarding and identity verification.
    • eWire Transfers: we use our own systems to transfer your funds between New Zealand, Australia or Fiji for cash pickup at one of our branches, bank deposit, or other pickup methods made available from time to time (including mobile wallet in Fiji where available). Available to personal and business customers. These transfers may be subject to digital verification processes and account onboarding.
  3. Fees and charges for Remittance Services are determined in accordance with clause 5.

2.3 Online currency purchase

This clause applies when you use our website or mobile app to purchase currency online to pick up at one of our branches (click and collect), including where a full customer profile is required.

  1. You must have a completed and up-to-date customer profile to purchase currency online where we require account registration.
  2. When you confirm your order, it forms a contract between you and Lotus pursuant to which you agree to purchase the relevant currency in the amount and at the rate stipulated (with pickup of the currency and, if only a deposit has been paid, the payment of the balance, to occur at a later date). This contract may not be cancelled unless agreed by us.
  3. Should you wish to cancel or amend your order for any reason and in any manner, we reserve the right to recover from you any losses, including foreign exchange losses, and reasonable costs incurred as a consequence of the cancellation or amendment, and may deduct the same from any deposit held by us. We further reserve the right to seek any shortfall from you that may arise should the deposit held (if any) be insufficient to cover the losses and costs incurred and you shall be liable for our costs of recovery.
  4. A valid government-issued photo ID and the confirmation email (or order confirmation) that you can collect your currency will be required to collect your order.
  5. The online currency purchase service is subject to availability at the selected branch. Currency availability may vary. Depending on stock levels, there may be a wait of up to 7 days before your order is ready to collect.
  6. Orders must be collected within 7 days of receiving the confirmation email / ready notice. After this period, we reserve the right to cancel the order and refund the amount, and charge you an administration fee of $10 (or local currency equivalent).
  7. Lotus reserves the right to offer alternative arrangements if necessary. If we are not able to fulfil your order, we will inform you by email and process a full refund back to you.
  8. All online currency purchase transactions are subject to our security protocols. We reserve the right to refuse collection if identity and transaction verification requirements are not met.
  9. We reserve the right to charge a fee for online currency purchase transactions which will be notified to you before you confirm your order.

2.4 Quick Order

This clause applies when you use Quick Order on our Website (including as a guest, where offered).

  1. Quick Order lets you request foreign currency for collection at a selected Lotus branch, or delivery where that option is enabled for your country.
  2. Guest Quick Order may be limited to a maximum order value shown during the order flow. Orders above that limit may require you to log in, sign up, or use the Lotus FX app (where available for your country).
  3. Rates and totals shown are indicative until your order is confirmed and payment is completed in accordance with the process we provide. Rates can change.
  4. When you submit a Quick Order, you form a contract to purchase the currency at the rate and on the terms confirmed for that order, subject to stock, branch capacity, compliance checks and our right to refuse or cancel as set out in these Terms.
  5. Cancellation, amendment, collection, ID, fulfilment timeframes, and fees in clause 2.3 apply to Quick Order as far as they are relevant, unless we notify different terms during the order flow.
  6. You must provide accurate contact and identity details. We may contact you about your order and may require additional verification before release of currency.
  7. Quick Order availability, delivery, and guest limits may differ by country (Australia, New Zealand, Fiji) and may change without prior notice.

2.5 Multi-currency cards

We may from time to time sell multi-currency cards which may be subject to their own specific terms and conditions which shall apply in addition to these Terms. In the case of any inconsistencies with those terms and conditions and these Terms, those terms and conditions shall prevail.

2.6 Transaction confirmation

After your transaction has been completed, we will provide a confirmation receipt or transaction / order reference number. You should retain this for your records.

2.7 Processing time

We aim to process all transactions (apart from Foreign Exchange Services provided at our branches) by the following business day, however, we cannot guarantee this. Delays may occur due to multiple reasons (such as compliance or technical issues or delays by third-parties), which can result in your transaction being processed slower than usual. If your transfer is urgent, please contact our head office or customer care team who will be happy to assist you directly. You agree that Lotus is not responsible if there is a delay in processing your transaction for any reason.

2.8 Change of mind

  1. In relation to our Foreign Exchange Services, we cannot offer a return or exchange and you will be required to conduct another transaction if you wish to buy or sell any foreign currency.
  2. In relation to our Remittance Services, remittance transactions are non-refundable once they have been processed. However, provided that the beneficiary of the remittance transaction has not picked up or received the funds, you may request us to attempt to reverse the transaction (or request this from the third-party service provider, where relevant). You must provide proof of the transaction and additional documentation as necessary. We do not guarantee that we will be able to reverse the transaction. If we successfully reverse the transaction, any sending fees paid cannot be refunded and an additional $20 processing fee (or local equivalent; applicable only if the reversal is successful) must be paid prior to any refund being processed or deducted from the refund amount.

3. Account registration and security

3.1 Account creation

To access certain Services, you may be required to register for an account with us. There is no cost to register for an account. You agree to provide accurate, current, and complete information during registration and to update such information as necessary.

3.2 Account security

You are responsible for maintaining the confidentiality of your account information, including your username and password. You must not share these details with anyone. You agree to immediately notify us of any unauthorised use or security breach regarding your account.

4. Customer responsibilities

4.1 Accurate information

You must provide us with accurate and up-to-date information, including your personal details, recipient/beneficiary information, transaction or order details, and any other information requested by us.

4.2 Funds availability

You confirm that the funds you are remitting or exchanging are lawfully obtained, and you have the right to transfer them.

4.3 Compliance with laws

You agree to comply with all applicable laws and regulations, including anti-money laundering (AML) and counter the financing of terrorism (CFT) obligations.

4.4 Transaction verification

We may require you to provide identification or other documentation to verify your identity, address and/or the source of funds before processing any transaction or releasing any Quick Order.

4.5 Payment

  1. You must pay for each transaction in full, on time, and in cleared funds without set off or deduction.
  2. You agree (in absence of fraud) not to instruct your bank to reverse any payments for Services which we have provided you.

4.6 Physical currency

  1. When giving us physical currency (in relation to any Service), you must provide us with clean, legitimate notes with no rips or tears. If any notes you provide do not comply with this, we may return the note to you and require you to make good the difference.
  2. You must not provide us with, or attempt to provide us with, fake or counterfeit notes. If you have provided us with fake or counterfeit notes, we will retain these notes and pass your details on to the police for investigation.

4.7 Return of funds

There may be a case where, due to any reason (including but not limited to unintentional duplicated transactions, teller error, computer system error, or an error by any third-party), we have given you more money than you were entitled to receive; taken less money from you than we should have; or transferred more money than you were intending to send (a Payment Discrepancy). In such cases:

  1. If you have received more money than you were entitled to, you waive any right you have in that money (if any), hold the surplus in trust for our benefit, and will promptly return that money to us at our request or when you become aware of the Payment Discrepancy (whichever comes first).
  2. If we have taken less money than we should have, you owe us the shortfall and will pay this to us at our request or when you become aware of the Payment Discrepancy (whichever comes first).
  3. If we have transferred more money than you were intending to send (an Overpayment), you acknowledge it may not be possible for us to recover this from the beneficiary. You agree to procure that the beneficiary returns any Overpayment to us within 5 business days. If the beneficiary fails to do so, you agree to pay us the local-currency equivalent of the Overpayment (calculated at the relevant rate on the day of the transfer) upon our request.

5. Fees and charges

5.1 Fees

Fees associated with our Services may vary depending on the transaction type, the amount being transferred, the destination, and the method of payment. You will be informed of all applicable fees before completing any transaction.

5.2 Currency exchange rates

Foreign exchange rates will be provided at the time of the transaction and are subject to change without notice. These rates are determined in accordance with the prevailing market conditions and our internal policies.

5.3 Additional charges

You are responsible for any third-party charges or fees, such as bank or card fees or intermediary charges, that may be applied to your transaction.

6. Liability

6.1 Reliance on information provided

You acknowledge that we are reliant on you to provide us with the correct information for your transaction or order. We will conduct the transaction in accordance with the information you provide us. In particular, with respect to our Remittance Services, if you provide us with incorrect information, then the beneficiary may not be able to collect the funds and/or the funds may be transferred into a different third party’s account, resulting in a loss to you. You agree that we have no responsibility and will not be held liable for conducting a transaction in accordance with the information you provide us.

6.2 Exclusion of liability

We will not be held liable for any loss or damage caused by:

  • Errors or delays in the transfer or order process, including issues caused by third-party service providers such as banks, MoneyGram, Western Union, or other partners
  • Incorrect or incomplete information provided by you
  • Unauthorised use of your account or any fraudulent activity, to the extent permitted by law
  • Cyber criminals
  • Acts of force majeure, including natural disasters, government actions, or technical failures that affect the Services

6.3 Limitation of liability

If we are found to be liable by a Court in relation to any matter, our total liability is limited to the total amount of the transaction fees paid by you to us.

7. Privacy and data protection

We collect, process, store and use your personal data in accordance with our Privacy Policy. By using our Services, you consent to the collection, processing, storage and use of your personal data as described in our Privacy Policy.

8. Restrictions on use

You agree not to use our Services for any unlawful purpose, including but not limited to:

  • Money laundering or financing terrorism
  • Fraudulent transactions
  • Violations of any local or international laws or regulations

9. Termination of Services

9.1 Your right to terminate

You may stop using our Services at any time by ceasing to conduct transactions with us. Termination does not affect any transactions that were processed before your cessation.

9.2 Our right to suspend or terminate

We may suspend or terminate your access to our Services and/or ban your account at our sole discretion if we suspect any fraudulent activity, non-compliance with these Terms, or any violation of applicable law. We will notify you of any such suspension or termination where required by law.

10. Governing law and jurisdiction

These Terms are governed by the laws of New Zealand. The courts of New Zealand shall have non-exclusive jurisdiction to hear, settle and/or determine any dispute, controversy or claim (including any non-contractual dispute, controversy or claim) arising out of or in connection with this agreement, including any question regarding its existence, validity, formation or termination. For these purposes, you hereby irrevocably submit to the jurisdiction of the New Zealand courts.

If you have breached, or we suspect you have breached, any of these Terms, or you do not pay any amounts when due, you agree to pay all of our costs (including legal costs) in exercising our rights against you and/or enforcing this agreement.

11. Complaints

If you have a complaint, please see our Complaints page or email the customer care team for your country. When Lotus receives your complaint, we will acknowledge it within 1–2 working days, gather and evaluate information, and aim to respond within 20 working days (in some cases up to 40 working days).

12. Amendments to Terms

We reserve the right to modify, update, or revise these Terms at any time. Any changes will be posted on the Website, and such changes will be effective immediately upon posting. You are responsible for reviewing these Terms periodically for any changes. By continuing to use our Services after the changes, you accept the updated Terms.

13. Contact information

For questions, concerns, or to report any issues, please contact us or email: