Consumer Protection Policy & Procedure
The Consumer Protection Policy is a key initiative in the exchange business, aimed at promoting global coordination to enhance financial stability. This policy plays a vital role in building consumer trust and confidence in our business structure, ensuring a secure and transparent environment for all users.
Ravi Exchange Company (Pvt.) Limited (RECL) adopts a positive approach to protect customer rights, ensuring compliance with regulatory standards to support the objectives of the Consumer’s Data Protection.
Below are the key measures taken to uphold Consumer Protection Policy & Procedures:
- Ethical Work and Behavior
- Protection of Consumer’s Personal Information/data.
- Accurate Information regarding Products & Services.
- Financial Awareness and Inclusion.
- Impartial and fair Handling.
- Accessible and transparent complaints process.
Ethical Work and Behavior
At RECL, all employees are committed to maintaining ethical conduct and professional excellence when interacting with the customers, ensuring the protection of customer’s financial interests, while the Company is primarily responsible for the protection of the financial interest of our customers.
Protection of Consumer’s Personal Information
Ravi Exchange is committed to protecting customer privacy and data. Access to transaction data is restricted to authorized personnel for transaction processing. We at Ravi assure quality services, and sincerely watch customer’s interest. To ensure data security, we have implemented robust mechanism to prevent unauthorized access or disclosure of customer information.
Accurate Information regarding Product & Services
Ravi Exchange ensures that all customers receive accurate and clear information about our products and services being offered across all communication channels. As an authorized entity by the State Bank of Pakistan, we deal in foreign currency notes, coins, postal notes, money orders, bank drafts, traveler’s cheques and other services in strict Compliance of the Regulatory Guidelines and approved internal policies.
Below are the products and services we offer in line with our customer’s protection:
- Home Remittance (Inward)
- Currency Exchange
- Branchless Banking
- Foreign Telegraphic Transfer (Outward)
Financial Awareness and Inclusion
Detailed information regarding standard operating procedures pertaining to our products and services are available through various channels, including our website, customer relation department, social media platforms, print and electronic media. Ravi Exchange is obliged to ensure that all information are clear and easy to understand for the customers.
Impartial and Fair Handling
RECL is committed to a safe and efficient dealing with the customers, ensuring to facilitate for secure and speedy transactions. We assure for a strong relationship in order to develop customer’s financial interests. We prioritize understanding and meeting customer’s needs in full compliance with the internal policies and regulations; including refund procedure will be clearly shared with the customers.
Accessible and Transparent Complaints Process
Customers will be provided with information on how to make a complaint or raise their concerns regarding the transaction and service standards. We offer a robust complaint handling system that is accessible and efficient in line with company standard policies and procedures as well as directives of the State Bank of Pakistan. The prescribed process includes direct contact with the Branch Staff, Customer Relation Department in order to address his / her concerns, before lodging a written compliant to be dropped in the “Complaint Box” being provided and placed at the counter of every branch.
- Customer will be provided fair opportunity to discuss his/her issues directly with the Branch Manager.
- If the branch staff is not effectively satisfying customer concerns, then he / she has the option to call “Customer Relation Department, Head Office, Lahore” a higher level forum for resolution of the issues if any pertaining to his/her transaction.
- Customer can submit complaints using the complaint box available at all branches.
- Complete contact details and email address of Complaint Handling Department will be available in our website for further assistance and follow up.
