The Ruling on Automatic Currency Exchange and Transfer Between Currencies

Question:
The Shaykh: I have heard from you the statement regarding the validity of the exchange house through what is called automatic exchange found in some shops. You have raised the objection that it is not hand-to-hand, knowing that in this case the money moves from the seller to the buyer from the moment this card is processed. What is the difference between this and something that may be valid or invalid?

Answer:
A group spoke, I do not know, about automatic sales. What is this automatic sale? I know about sales now. I said regarding currency exchange: if you bring dollars or Saudi riyals to the bank and want dollars in exchange, or if you bring Saudi riyals and want dollars, pounds, or any other currency in exchange, then mutual possession is required. You hand over the Saudi riyals and they hand over the exchange currency to you in the same meeting. As for them taking the Saudi riyals from you and handing over the exchange currency to you in another country, that is not permissible, because it is a present sale with deferred delivery. The Prophet (peace and blessings be upon him) said, "Do not sell a present item for a deferred one," and he said, "Hand to hand." This is what I am saying. Yes, mutual possession is required in the sale of one currency for another. It is not sufficient to transfer it to another country without possession, or for them to give you a check for it. This is not sufficient, because a check is a document, merely a document; you have not taken possession of anything. It does not suffice. Yes.