Regulatory

USI Money is a trading name of Universal Securities & Investments Limited who are authorised and regulated by the Financial Services Authority under the Payment Services Regulations 2009, registration 574754, for the provision of payment services. USI Money is also a registered MSB with HM Revenue & Customs No: 12204169.

USI Money offers “Client Money Protection” on all currencies that we exchange. If you send money to us prior to a transaction taking place and if we hold money for you after an FX transaction has been completed or if we are holding money for you with respect to designated investment business as defined by the rules of the FCA, then we hold your funds under “Client Money Protection”.

Is my Money Safe?

USI Money holds all “Client Money” to the standard set out in the Financial Conduct Authority’s Client Money rules. This means we segregate “Client Money” from the company’s money and hold it separately in an EEA-regulated credit institution. The credit institution has specifically acknowledged that the money in these accounts belong to our clients and they have no right of set-off with any of the firm’s balances. This arrangement is designed to ensure that “Client Money” is not at risk in the unlikely event of USI Money getting into financial difficulties.

Money Laundering

USI Money is fully committed to protecting the integrity of its transfer system – find here our strict Anti-Money Laundering policy.

HMRC, Government and other organisations involved in financial services – all are united in their determination to stop the spread of financial crime as part of an international effort to protect us all against crime and terrorism.

Your co-operation is vital to the successful fight against crime and terrorism. What the UK law requires:

  • We are required to verify your identity and address.
  • We are required to keep full records of all transactions together with the identification provided.
  • We are required to monitor any unusual or suspicious transactions of any size.
  • We have a legal obligation to report to the Serious Organised Crime Agency (SOCA) any suspicious transaction.

My Responsibilities?

When you apply for a USI Money account, you will be asked to confirm your identity and other personal details. USI Money has established special verification systems to confirm your identity.

You could be asked to confirm your identity whether you are applying to be a new customer or have been a customer for some time. While our identity verification systems are designed to minimise any inconvenience to you, the verification process may take a 24-48 hours to complete.

Crime and terrorism need cash. Criminals turn the ‘dirty’ money made from drug smuggling, trafficking and other organised crime into clean money by using false identities or taking the names of innocent people – like you. Making sure that people are who they say they are is essential in the fight against crime and terrorism. This does not mean in any way that suspicion is falling on you. Any information about your identity is held confidentially and will help stop your identity being used falsely.

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