Please contact us if you require more information.
We are partnered with Currencycloud who are an FCA regulated Electronic Money Institution ultimately owned by VISA.
Currency Cloud, as an Electronic Money Institution (EMI), receive, collect and store funds for clients, as well as facilitating FX conversions and processing outbound payments. Curency Cloud separate clients’ funds from our company funds through our FCA-regulated e-money partners at a credit institution. If Currencycloud was to become insolvent, the funds held in our accounts would form an asset pool from which claims of the e-money holders (our clients) would be paid above those of other creditors. The bank(s) or authorized credit institutions have no rights over funds in Currencycloud’s accounts. Currencycloud has no rights over clients’ accounts (other than where specified in our Terms and Conditions).
Currencycloud are trusted to transact over £20Bn annually by over 1.6 million customers, spread across over 1000 different service providers. They are the payments engine behind companies such as Revolut and Azimo who are focused on servicing the transactional consumer market. BLK.FX service the corporate segment who want the same great rates, but with the more traditional levels of service and expertise. This is why BLK.FX can offer all of the benefits of banks, traditional brokers and fintech's but with none of the drawbacks, all with the highest levels of security and unparalleled service. The diversified model of providing solutions to organisations serving different customer segments means that unlike a traditional currency broker, there is no reliance or risk placed on a small number of customers. Economies of scale and strength in numbers means better security, better technology and better rates.
BLK.FX's main partner, Currencycloud, hold an e-money license enabling our clients to hold funds on account and collect funds in from third parties into their own named currency accounts from all over the world. This is a step up in regulation from the standard API license held by the majority of traditional brokers. Unlike Banks, there is no limit to the amount of protection your funds have, your money is held in separate accounts with tier one banks. In the unlikely event of Currencycloud ceasing to exist, your money remains protected.
FinCEN Regulation:
Payment Services for BLK.FX Limited are provided by The Currency Cloud Inc. Registered Office: 104 5th Avenue, 20th Floor, New York , NY 10011. The Currency Cloud Inc are registered with FinCEN and authorized in 22 states to transmit money.
CFSB – Community Federal Savings Bank:
In the US Currency Cloud operates in partnership with CFSB to facilitate payments in all 50 states. CFSB fully owns the bank program and services are provided by The Currency Cloud Inc. CFSB is registered with the Federal Deposit Insurance Corporation (FDIC Certificate# 57129)
All funds are safeguarded by our FCA-regulated e-money partners at a credit institution .
Currencyloud's online platform has a number of security measures in place to provide you with bank grade levels of security, certified under ISO/IEC 27001:2013, the international best practice standard for information security management
BLK.FX is partnered with The Currency Cloud Limited. The Currency Cloud Limited is authorized by the Financial Conduct Authority under the Electronic Money Regulations 2011 and the Payment Services Regulations for the issuing of electronic money and the provision of payment services with FCA registration number 900199. In the US Currency Cloud operates in partnership with CFSB. CFSB fully owns the bank program and services are provided by The Currency Cloud Inc.
Currency Cloud Users: Please click here for our T's & C's
For clients based in the European Economic Area, payment services for BLK.FX are provided by CurrencyCloud B.V.. Registered in the Netherlands No. 72186178. Registered Office: Nieuwezijds Voorburgwal 296 - 298, Mindspace Nieuwezijds Office 001 Amsterdam.
CurrencyCloud B.V. is authorised by the 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 States, payment services for BLK.FX are provided by The Currency Cloud Inc. which operates in partnership with Community Federal Savings Bank (CFSB) to facilitate payments in all 50 states in the US. 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 (MSB Registration Number: 31000206794359). Registered Office: 104 5th Avenue, 20th Floor, New York , NY 10011.
For clients based in the United Kingdom and rest of the world, payment services for BLK.fx are provided by The Currency Cloud Limited. Registered in England and Wales No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ.
The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199).
BLK.FX's payment and foreign currency exchange services are provided by Global Currency Exchange Network Ltd T/A GC Partners. Global Currency Exchange Network Ltd is authorised by the FCA under the Payment Services Regulations, 2017 (FRN: 504346).
Registered as a Money Services Business, regulated by HM Revenue & Customs ("HMRC") under the Money Laundering Regulations 2017. (Registration number is 12137189). Registered in England and Wales. Company number 04675786. Registered Office 3rd Floor 100 New Bond Street, London, England, W1S 1SP.
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