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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