Regulations for Our Currency Exchange Service
When you exchange currency with us you’re in safe, expert hands.
CurrencyLab (our service operated by Bureau Buttercrane Ltd) is regulated by the Financial Conduct Authority (FCA) in the UK, as an Authorised Payment Institution. And we’re registered as a Money Service Business with HM Revenue & Customs, giving you peace of mind.
Protection of client funds
We are required to safeguard relevant customer funds in separate accounts so that customer funds are secure at all times.
Highest standards for systems and procedures
We must maintain systems that safeguard and secure customer funds. Also, we are required to have effective risk management procedures, internal control mechanisms and to maintain relevant records.
Minimum capital requirements
We must maintain a minimum level of assets at all times, set by the Financial Conduct Authority. We must also hold sufficiently liquid assets to be able to meet our working capital requirements.
Key personnel are approved for performing management functions and must pass a ‘fit and proper test’ considering honesty, integrity, reputation, competence, capability and financial soundness to make sure that we are of good repute and possess appropriate knowledge and experience.
Detection of Financial Crime
We must comply with legal requirements to deter and detect financial crime, which includes money laundering and terrorist financing.
For our full Terms & Conditions of our currency exchange service, head to our T&Cs page.