FCA AUTHORISED

Foreign Currency Direct is authorised by the Financial Conduct Authority (FCA) as an Authorised Electronic Money Institution. Our Firm Reference Number is 902022.

SECURITY OF YOUR FUNDS

Under the terms of our authorisation as an e-money institution by the Financial Conduct Authority, we’re required to safeguard your money by keeping it in segregated accounts. We hold these with trusted mainstream banks, and because we’re an authorised e-money institution, you can keep your currency with us until you need to make a payment.

We don’t speculate on the currency markets. When you instruct us to perform a foreign exchange transaction, we immediately instruct a covering transaction with a counterparty.

We are also backed by Pollen Street Capital, a global asset investment management company focused on the financial and business services sector with over £2.7bn of assets under management. Pollen's extensive network and advisory board bring insight and market access, and add deep knowledge, experience and expertise to our proposition.

AUDITED ACCOUNTS

Our accounts are audited annually by a recognised statutory auditor and are available to view on Companies House free of charge. Our company registration number is 05082565.

ANTI-MONEY LAUNDERING AND SANCTIONS

We take our regulatory responsibilities extremely seriously and have several policies, which include anti-money laundering and sanction screening.

As a result, we cannot receive funds from, or send payments to, the following countries:

Crimea, Cuba, Iran, Libya, North Korea, South Sudan, Sudan, Syria

In some cases, for your identification purposes, once you have signed up, we may need some documents from you to prove your identity and address (such as a copy of a passport and a recent utility bill). We can accept a clear photographic image or scan of these documents.

We may also require some additional information or documents, such as documentation evidencing your source of funds, source of wealth or the reason why you are performing a transaction. We’ll let you know whenever you need to provide us with additional documents, but examples of acceptable documents could include bank statements, payslips or a completion statement for a recent property sale.

As part of our ongoing efforts to mitigate the risk of money laundering & terrorist financing we also have restrictions on the types of businesses, activities and countries we can support.

US, Mexican and Quebec Residents

Due to licencing requirements we are currently unable to service individuals or businesses resident in the US, Mexico or Quebec, Canada.  If you are unsure about how this affects you please call us on 0800 328 5884.

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