Foreign currency Broker

 

 

Registration

To comply with HM Customs and Excise Money Laundering regulations any client that wants to transfer currency overseas will be obliged complete a compliance form and provide a proof of ID and proof of address. The form also usually contains terms and conditions. Compliance procedures will be fully expained by the relevant person but is usually as follows:

Complete an application form

By doing so you are not obliged to use the services of the relevant currency provider. However nothing can be agreed until a form is completed and returned.

Proof of ID

Usually a Foreign Exchange company will require a proof of address, which could be a copy of a utility bill (no older than 3 months) or a company letterhead (for corporate clients).

It is also a requirement to provide a certified proof of photo ID. This can be a photocopy of your passport signed by a third party to certify that it is a true likeness.

Once all paperwork is completed the transaction can take place. However check withe the Foreign Exchange compamy for precise requirements.



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