FCA Regulation

In the UK, the Financial Conduct Authority (FCA) regulates Currency Index as an "Authorised Payment Institution" (API) under the Payment Services Regulations 2009. In fact, Currency Index was among the first currency companies in the UK to carry this regulation. You can check on the FCA website (formerly the FSA) to confirm our regulatory status; our Firm Reference Number is 504353.

Being an API means that Currency Index:

  • Operates Safeguarded Client Accounts, to keep currency bought by clients separate from business assets and bank accounts (Safeguarding means that funds can be returned to clients quickly and easily if an API were to cease trading)
  • Holds a sufficient amount of capital in the business to continue trading, should any trading difficulties arise
  • Is answerable to the Financial Ombudsman Service for complaints about payment services
  • Must operate fair terms of business and be clear and transparent in all its dealings with clients

FCA Register

Payment Security

Each and every payment we send for our clients is comprehensively checked and verified before it is processed. That means that your payment is robustly screened to ensure that you are not making an illegal or potentially fraudulent transfer, adding the peace of mind that comes with using an experienced and responsible service for your overseas payments.

Compliance Procedures

Credentials & References

  • Registered with HM Revenue & Customs as a Money Service Business (Registration Number 12358614)
  • Registered with the ICO under the Data Protection Act 1998 (Registration Number Z1495263)
  • A founder member of AFEP, the Association of Foreign Exchange & Payment companies
  • A Limited Company registered in England and Wales, company number 06586857
  • Registered at 49 The Drive, Rickmansworth, Herts WD3 4EA

FAQs on Regulation

Is Currency Index regulated?

Yes, we are an Authorised Payments Institution, under the Payment Services Regulations 2009.

What happens to my money while it's with you?

In most cases, client payments are sent the same day funds are received; if we are holding funds for any longer (for example, a deposit on a Forward Contract, or if your money arrives with us late in the working day) they will either be lodged in a segregated client account or a Safeguarded client account as prescribed by FCA regulations. In both cases, funds are held in trust for your benefit only.

What checks will be done on me?

We perform electronic ID checks to verify the identity of our clients; and where necessary we may also ask for copies of identification documents, or invoices for goods being purchased abroad. This is all part of ensuring we are not used as a vehicle for any fraudulent or illegal payments, or for money laundering.

Can I pay you from a third party bank account?

In some cases, but please discuss this with your account manager in the first instance, as unexpected third-party payments (eg a payment from your business bank account for a personal transaction) can cause delays in onward payment and in some cases we will need to return funds to you.

Currency Index at the forefront of regulation (BBC News Channel)

Contact us for a quote

If you'd like an indicative quote for your transfer, or would like to discuss our service with a currency expert, complete the form and we'll be in touch very quickly. Our personal service is second to none, and we don't pass your details to anybody else.

  • Award-winning customer service
  • Market leading exchange rates
  • FCA Authorised Payments Institution
  • Free, no obligation discussion of your requirements
  • Founded in 2008