Currency Index is registered with HM Revenue & Customs as a Money Service Business. Our registration number is 12358614.
In order to comply with HM Revenue & Custom’s Money Laundering Regulations all our clients must provide ID information before they can transmit funds using our services.
For UK residents, we can run an online ID check to verify your identiy. This is free of charge and does not constitute a credit check. Usually if you have UK residential status and are on the electoral roll, this will be all that is required in order to send us funds. Please note in the case of joint accounts we will need details for all the account holders.
For international residents and some UK cases (for example if you have recently moved house), we will need to ask for certified copies of forms of identity such as a passport and utility bill. Your account manager will be able to advise you of what is required before we can transmit funds on your behalf.
Where funds are sent to Currency Index from a business account, we will perform a Companies House check and ask for individual ID verification for all shareholders who control over 25% of the business sending us funds. This is an HMRC requirement and a service provided by Currency Index without charge.
We will also ask for details of company Directors authorised to instruct us in sending payments.
- Purpse of Transfer and Sanctions
Another question we will ask all clients is the purpose of the transaction. This is an anti-money laundering measure and Currency Index reserves the right to refuse instructions where we believe that a client may be concealing the true purpose of a transaction, or where a beneficiary is on an international sanctions database as advised by HM Treasury and other equivalent agencies worldwide.