Regulatory Information

5 min read

Non-EEA based clients

Non-EEA* clients, are supported and fully serviced by Clear Treasury (UK Trading) Ltd, who operates the brand names Clear Treasury for business customers and Clear Currency for personal customers.

Clear Treasury (UK Trading) Ltd is authorised by Financial Conduct Authority (Firm reference number 708529) under the Payment Services Regulations 2017 for the provision of payment services.

*Non-EEA excludes clients based in the United States of America (US). Refer to the US Based Clients section below for more information.

What Does the FCA Do?

The Financial Conduct Authority (FCA) is the conduct regulator for financial services firms and financial markets in the UK.

The FCA’s primary aim is to ensure financial markets work honestly, fairly and effectively for individuals, businesses and the economy as a whole.

To find out more about the FCA and what they do click here.

What is the FCA Register?

You can check if a UK based payments firm you're dealing with is listed on the FCA register.

The register lists all the firms and their approved persons involved in FCA-regulated activities. You can search the register to find out what they are regulated to do and your protections when doing business with them.

What Does Being FCA-Regulated Mean for Our Clients?

Under FCA regulation Clear Treasury (UK Trading) Ltd are required to meet all regulatory standards as set out under the Payment Service Regulations (PSR), as part of our authorisation and ongoing supervision.

Are my funds safe?

As an Authorised Payment Institution (PI) Clear Treasury (UK Trading) Ltd must comply with certain Safeguarding requirements as set out in the PSR’s.

Individuals (country of residence) and companies (country of incorporation) in non-EEA countries, will be contracted with Clear Treasury (UK Trading) Ltd, who will safeguard your funds..

Safeguarding means that Clear Treasury (UK Trading) Ltd shall place your money in specifically designated accounts, which are held with a tier 1 bank, that only hold client money and not money belonging to Clear Treasury (UK Trading) Ltd. The reason Clear Treasury (UK Trading) Ltd safeguard your money is so that, in the unlikely event that we get into financial difficulties, the money which we safeguard will be protected from the claims of our creditors and it should be returned to you in full (less the insolvency practitioner’s fees incurred in returning safeguarded money).

Please refer to your Terms of Business for more Safeguarding information.

More information on the FCA’s Safeguarding requirements can be found here.

EEA based clients

EEA (European Economic Area countries e.g. France) based clients are supported by Clear Currency Europe Ltd.

Clear Currency Europe Ltd is a limited company registered in Ireland, company number 686631 with registered address: 72 Leeson Street Lower, Dublin 2, Ireland.

Payment services for all Clear Currency Europe Ltd clients are provided by Currency Cloud B.V. who are authorized by De Nederlandsche Bank (DNB) for the issuing of electronic money and the provision of payment services with Relation number DNB: R142701.

Are my funds safe?

Individuals (country of residence) and companies (country of incorporation) in the EEA, will be contracted with Currency Cloud B.V., who will safeguard your funds.

When funds are posted to your account, e-money is issued in exchange for these funds, by Currency Cloud B.V.. In line with European regulatory requirements, Currency Cloud B.V. 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 Currency Cloud B.V., or our insolvency. Currency Cloud B.V. stops safeguarding your funds when the money has been paid out of your account to your beneficiary’s account.

More information on Currency Cloud B.V. Safeguarding can be found here.

US based clients

United States of America (US) based clients are supported by Clear Treasury Consulting Ltd.

Clear Treasury Consulting Ltd is a limited company registered in England and Wales under number 09821283 with registered address: 288 Bishopsgate, London EC2M 4QP.

Payment services for all Clear Treasury Consulting Ltd clients are provided by The Currency Cloud Inc. (TCCI).

TCCI is a FinCEN registered Money Service Business (“MSB”) under registration number 31000206794359,and an authorised money transmitter regulated by the federal and state governments of the United States of America, authorized to provide money transmission services across multiple states. More information can be found here.

Open your free Clear Treasury account today for quick, secure, and cost-effective international currency transfers.

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