Currencycloud Limited
For clients based in the United Kingdom and rest of the world
Payment services are provided by The Currency Cloud Limited. Registered in England and Wales (company number: 06323311).
Registered Office:
Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ.
The Currency Cloud LTD is authorised by the FCA under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199).
For client based in the European Economic Area
Payment services are provided by CurrencyCloud B.V..
Registered in the Netherlands (company number: 72186178).
Registered Office:
Nieuwezijds Voorburgwal 296 – 298, Mindspace Nieuwezijds Office 001 Amsterdam.
CurrencyCloud B.V. is authorised by De Nederlandsche Bank (DNB) under the Wet op het financieel toezicht to carry out the business of an electronic-money institution (Relation number: R142701).
For clients based in the United Kingdom and rest of the world
Payment services are provided by The Currency Cloud Inc. which operates in partnership with Community Federal Savings Bank (CFSB).
CFSB is registered with the Federal Deposit Insurance Corporation (FDIC Certificate# 57129).
The Currency Cloud Inc is registered with FinCEN and authorised in 39 states to transmit money (MSBRegistration Number: 31000206794359).
Registered Office:
104 5th Avenue, 20th Floor, New York, NY 10011.
Safeguarding
When funds are posted to your account, e‑money is issued in exchange for these funds, by an Electronic Money Institution who we work with, called Currencycloud. In line with regulatory requirements, Currencycloud safeguards your funds. This means that the money behind the balance you see in your account is held at a reputable bank, and most importantly, is protected for you in the event of Currencycloud’s, or our, insolvency. Currencycloud stops safeguarding your funds when the money has been paid out of your account to your beneficiary’s account.
How it works
The table below explains some of the key aspects of your relationship with CurrencyTransfer, and with Currencycloud.
You establish a relationship with CurrencyTransfer when you sign up, for the provision of all services related to your account that are not regulated payment or e‑money services.
You establish a relationship with Payment Partner when your account is has been activated, meaning you have passed the KYC on-boarding process of at least one Payment Partner.
CurrencyTransfer provides services to you as agreed by Currencycloud. CurrencyTransfer has a partnership with Currencycloud who also provides certain services to you under this arrangement, specifically, payments and e‑money services such as an e-wallet.
Currencycloud is an authorised financial services entity ultimately providing the regulated payments and e‑money services to you via their technology, platform and payments network, enabling CurrencyTransfer to provide a seamless service to you.
As CurrencyTransfer owns the relationship with you, they are responsible for providing you with ongoing help & support and they are your day-to-day point of contact for queries. They are also responsible for the provision of services to you in relation to your account that are not regulated payments and e‑money services.
Currencycloud is responsible for regulatory compliance regarding provision of regulated payments and e‑money services to you under this agreement. For a full definition of what amounts to a regulated payment or e‑money service, please refer to the FCA guidance here and here. You can also find Currencycloud’s complaints procedure on our website if you have any concerns about the service you have received.
