Frequently Asked Questions
USI Money is a registered trading name of Universal Securities & Investments Limited.
Universal Securities & Investments limited are authorised and regulated by the Financial Conduct Authority under the Payment Services Regulations 2017, registration 574754, for the provision of payment services. USI Money is also a registered MSB with HM Revenue & Customs
Most major currencies such as Sterling, Euros and U.S. Dollars can be received the same day (where Bank cut-off times allow). For other currencies it can take up to 48 hours. USI Money uses priority payments for all transfers, which is the fastest and safest type of bank to bank transfer.
USI Money accepts funds by bank transfer. A bank transfer can be made online via your own online banking system or by visiting any branch of your bank. Clients with phone banking will also be able to use this to instruct a transfer.
These are the two main types of deals that are available in the foreign exchange market. Spot is a foreign exchange trade with the settlement time of two business days. A forward is similar to spot, but the settlement date can be set up to six months forward. This allows you to guarantee today’s exchange rate on payments you need to make or receive in the future. We can offer two types of forward currency exchange contracts.
Settlement date or a value date is when your foreign exchange trade is available for delivery / completion. USI Money requires to be in receipt of any sold currency before the settlement/value date.
Opening an account with USI money is simple. Just register online as a individual or corporate FX account. Once your information is received a member of our team will contact you to explain the process.
USI Money does not charge any commission to transact your corporate payments for values over £1,500. Any corporate payment made below this will incur a £10 transfer fee.
The UK holds one of the biggest Foreign Exchange markets in the World. USI Money has access to several treasury departments and are able to execute wholesale rates on all the major currencies. If you are looking for Spot or Forward buys or possibly want us to become your exchange department and monitor rates for you, our flexible approach makes USI Money the ideal partner to trade your FX with.
USI Money holds client monies in segregated client accounts with its principle bankers. The Payment Services Regulations 2017 stipulate that all funds held in such accounts cannot be claimed by creditors. All funds sent to us are held in segregated accounts that are only used for client transactions and are independent of the USI Money business accounts.
We comply by the UK rules governing the General Date Protection Regulation (GDPR) which protects customers against the misuse of personal data held across both manual and electronic records