Our Trust Policies - UK

Legal Documents And Disclaimers

We’ve assembled all our important legal documents here for your convenience.

Introduction

Welcome to CurrencyFair! Before you proceed to use our services, it's important to familiarize yourself with our terms and conditions. These terms outline the rules and guidelines that govern your use of the CurrencyFair website and services provided by CurrencyFair Ltd and its partners. By accessing and using our website, you acknowledge that you have read, understood, and agreed to abide by these terms.

Regulatory Compliance: CurrencyFair operates under the oversight of the Central Bank of Ireland and partners with Moorwand Ltd, an FCA-authorized institution, to provide payment services and e-money activities in the UK. Our commitment to regulatory compliance ensures the safety and security of your transactions.

User Responsibilities: When using our website, you agree to comply with applicable laws and regulations. You must be of legal age and have the capacity to enter into binding contracts in your country of residence. By using our services, you confirm that you have the authority to act on behalf of any business entity you represent.

Intellectual Property Rights: All content on our website, including text, logos, and images, is owned or licensed by CurrencyFair and is protected by intellectual property laws. You may not use or distribute this content for commercial purposes without our prior written consent.

Limitations of Liability: While we strive to provide accurate and reliable information, we do not guarantee the completeness or suitability of our content for investment purposes. CurrencyFair shall not be liable for any losses or damages resulting from the use of our website or services.

Anti-Money Laundering (AML) Compliance: CurrencyFair is committed to preventing money laundering and terrorist financing activities. We may request identification documents and monitor transactions to ensure compliance with AML regulations.

Dispute Resolution: Any disputes arising from the use of our website or services shall be governed by English law and resolved in English courts.

We encourage you to review our full terms and conditions before using our services. If you have any questions or concerns, please contact us for assistance. Thank you for choosing CurrencyFair – we look forward to providing you with a secure and reliable platform for international money transfers.

Regulation

CurrencyFair Ltd is regulated by the Central Bank of Ireland.

CurrencyFair Ltd does not carry on any regulated activities in the UK, namely payment services or e-money services. Rather it has partnered with Moorwand Ltd (Moorwand), an FCA authorised payment services provider and e-money institution (FRN: 900709) to carry on these elements of the service we provide to you. You can check the FCA register here for details of Moorwand’s permissions.

As a CurrencyFair customer, you will be subject to the CurrencyFair Legal Documents and Disclaimers and the Moorwand T&Cs in respect of the regulated payment services. Please read both carefully and if you have any questions, please contact us here. Key Features Include:

• Protection of Client Funds – as Moorwand is not a bank, Moorwand protects your money through safeguarding instead of the protection offered under the Financial Services Protection Scheme. As an FCA authorised firm, Moorwand follows a clear set of regulations on how Morowand has to safeguard customer’s funds. Among others, this requires Moorwand to segregate customer accounts with an FCA regulated bank so that, in an insolvency event, this money would be protected from other creditors’ claims and can be repaid to customers.
• Highest Standards for Systems and Procedures – Moorwand must maintain systems that minimise the risk of the loss of customer funds through fraud, misuse, negligence or poor administration. In addition Moorwand are required to have effective risk management procedures, adequate internal control mechanisms and to maintain relevant records.
• Minimum Capital Requirements – Moorwand must maintain a minimum level of assets at all times that is set by the FCA. Moorwand must also hold sufficiently liquid assets to be able to meet its working capital requirements.
• Management Vetting – Key personnel are individually approved for performing controlled and significant influence functions. Moorwand must pass a ‘fit and proper test’ considering honesty, integrity, reputation, competence, capability and financial soundness to make sure that Moorwand is 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.

CurrencyFair UK Ltd is a subsidiary of CurrencyFair Limited, a regulated Payment Institution authorised by the Central Bank of Ireland pursuant to Regulation 18 of the European Union (Payment Services) Regulations 2018.

Legal Documents And Disclaimers

Legal Requirements

Terms and Conditions

This website (the “Website”) is operated and owned by CurrencyFair Ltd, 91 Pembroke Road, Ballsbridge, Dublin 4, Ireland (“CurrencyFair”). Please read the following terms and conditions before using this Website. By accessing and using this Website you acknowledge that you have read, understood and agree to be bound by the terms and conditions. By continued use of the Website you will be bound by revised or further terms and conditions as published on the Website. You should therefore check these terms and conditions every time you use the Website. If registering on behalf of a business you hereby declare that you have the authority to bind that business to these T&Cs.

1. Accessing the Website

1.1 You should not use the Website from any country where accessing or using the Website or any of the information, products or services on it is prohibited by law. This Website does not constitute any invitation or solicitation by CurrencyFair to any person to use any such information, products or services in countries where to do so is prohibited by law.

2. Restrictions on use

2.1 This Website may only be used by individuals, companies or other legal persons who have the legal capacity to enter into legally binding contracts under the law applicable in their country of residence. Without limiting the foregoing and by way of example this service is not available to persons under the age of 18 or otherwise under legal age of majority or to persons of unsound mind. If you lack the legal capacity to enter into a contract you may not use this service and CurrencyFair shall not be responsible for any unauthorised use of this service by such persons.

2.2 The content of the Website and the products and services made available by CurrencyFair on the Website are intended for use by holiday or business travellers or by individuals or corporations seeking to purchase currencies for legitimate use, and should not be used for speculation or investment.

3. Changes to the website

3.1 CurrencyFair may, in its absolute discretion, make such changes to the Website content or the products and services offered by CurrencyFair through the Website as CurrencyFair considers appropriate from time to time.

4. Terminations of use

4.1 CurrencyFair may terminate your use of the Website for any breach of these terms or conditions or for any breach of law or regulation or for any reason CurrencyFair considers appropriate in order to comply with anti-money laundering and other financial regulations. CurrencyFair reserves the right to decline any part of your order at any time.

5. Intellectual Property

5.1 All intellectual property and all materials comprising or contained in the Website including but not limited to all text/articles, logos, software and images, are owned, or as the case may be licensed, except as otherwise expressly stated, by CurrencyFair. The materials contained on or comprising the Website may not be copied or redistributed for commercial or private purposes of any kind without prior written permission from CurrencyFair. CurrencyFair grants you a non-transferable and limited personal licence to access and use the Website. This licence is conditional on your continued compliance with these Terms & Conditions. You agree not to “deep-link” to the Website, resell or permit access to the Website to others and you agree not to copy any materials appearing on the Website for resale of for any other purpose to others without the prior written consent of CurrencyFair. For the avoidance of doubt, you will be responsible and bound by any unauthorised use of the Website made in breach of this section.

6. Links to other websites

6.1 CurrencyFair may provide links to other websites that are controlled or operated by third parties. Links to other websites are solely provided for your convenience and are not an endorsement, authorisation, sponsorship or affiliation by CurrencyFair with respect to such site, its owners or its providers and you shall not hold CurrencyFair liable for any loss or damage caused by use of or reliance on any content, goods or services available on these linked sites.

7. Accuracy of content

7.1 All content shown on the Website (and all services and products provided by it) are provided and made available without any warranties, conditions or guarantees given by CurrencyFair. All such warranties, conditions or guarantees which would otherwise be implied by law are excluded to the fullest extent permitted by law. In particular, CurrencyFair does not warrant the accuracy, suitability, reliability, completeness, performance and/or fitness for purpose of the content of any services or products available through this Website.

7.2 CurrencyFair shall use its reasonable endeavours to ensure that any dated information contained or reproduced on the Website is obtained from sources believed to be reliable and has been prepared in good faith and with all reasonable care. CurrencyFair does not accept any responsibility to update or amend any information and makes no warranty concerning the completeness and exactness of such information. CurrencyFair will not have any liability for the use or interpretation of such information. None of the information constitutes financial or investment advice. Daily data is not readily available for some exchange rates and therefore may be out of date.

8. Communications with CurrencyFair

8.1 Any communications or materials of any kind that you email, physically mail, telephone or otherwise transmit through the Website, including information, data, questions, comments or suggestions (“your communication”) will be treated as non-proprietary and non-confidential and CurrencyFair may use your communication in any way it thinks fit, either on the website or elsewhere with no liability or obligation to you. CurrencyFair is free to use any idea, concept, know-how or technique contained in your communication for any purposes including but not limited to developing and marketing products. CurrencyFair may monitor your communications for the security of the website and such monitoring will not entitle you to any cause of action or give you any right to the manner in which communications are monitored. CurrencyFair will not be liable for any costs, damages, expenses or any other liabilities incurred as a result of CurrencyFair’s monitoring activities.

9. Liability

9.1 You agree to use the Website at your own risk.

9.2 CurrencyFair uses reasonable skill and care in providing its products and services to you. However (to the maximum extent permitted by law) CurrencyFair is not liable to you for any loss, damage, claim or compensation (including loss of profit or loss of use) incurred by you from your use of, or your inability to use, the Website or the products or services offered through or by the Website however caused notwithstanding any error or omission including negligence.

9.3 CurrencyFair shall not be liable to you or any third party for any loss, damage, claim or compensation (including loss of profit or loss of use) incurred by you resulting from the failure of CurrencyFair to execute any transfer in accordance with the instructions from you.

9.4 Time shall not be of the essence for the processing of any transfer. In particular, CurrencyFair accepts no responsibility for any delay in onward payment attributable to the late arrival of your instruction for transfer relative to the cut off times of our bank.

9.5 CurrencyFair shall not be liable for any fees or commissions charged by any intermediary bank or other entity when funds are deposited in your CurrencyFair account or transferred to your personal or recipient account.

9.6 CurrencyFair’s maximum aggregate liability to you in respect of all foreign currency transactions undertaken by you shall be limited to a refund equivalent to any monies you have paid to CurrencyFair to acquire foreign currency.

9.7 You agree that CurrencyFair will not be responsible in any way to you or any other person in the event of force majeure or for the act of any Government or legal authority.

9.8 For your protection and that of other users you should not share your registration information (password, User Name, security questions and PIN) with any other person or entity for any purpose. You alone are responsible for all acts or omissions that occur within the Website through the use of your registration information.

9.9 You hereby indemnify and hold blameless CurrencyFair, its directors, officers, employees and agents form and in respect of any loss, damage, liability, cost or expense that it may suffer or incur by reason of you failing to discharge your obligations under or acting in breach of any of these T&Cs or any breach of any applicable law or regulation.

9.10 You shall be responsible for providing and maintaining the means by which you access the Website which may include but is not limited to a computer and a modem or telephone. You shall be responsible for all access, service and ongoing fees necessary to connect to the Website and you shall assume all risks associated with the use and storage of information on your computer or on any other computer through which you will gain access to Website and our services. You agree that CurrencyFair will not be liable in any way to you in the event of failure of or damage or destruction to your computer system, data or records or any part thereof or for any delays, losses, errors or omissions resulting from the failure or mismanagement of any telecommunications or computer equipment or software. You will not expose the website to any viruses, trojans or other similarly harmful or inappropriate material or device. In the event that any such viruses etc. are deemed to have been transmitted to the website from your account CurrencyFair reserves the right to terminate your account and you shall be liable for the cost to CurrencyFair of removing such viruses etc. and CurrencyFair shall have the right to set-off the cost against any balance held to the credit of your CurrencyFair account.

9.11 CurrencyFair is not liable for any viruses for other technologically harmful material that may affect your computer equipment, computer programs or other material resulting from your use of the Website.

9.12 If you have a mobile device with fingerprint authentication enabled, you will have the ability to access the CurrencyFair mobile app using your fingerprint data. If your device does not have fingerprint authentication enabled or available, you can also access the CurrencyFair mobile apps via your mobile PIN or your email address and password combination. You alone are responsible for all acts or omissions that occur within the CurrencyFair mobile apps through the use of your registration information, PIN or biometric data. Please note that CurrencyFair does not retain or store any biometric data.

10. Closure or suspension of the marketplace

10.1 The marketplace will be open during the periods published in the FAQs which may be updated from time to time. CurrencyFair reserves the right to open or close the market earlier or later than the published times.

10.2 At the point the marketplace is closed all open orders will be cancelled. Should your order be cancelled as a consequence of the marketplace closing CurrencyFair will return the balance of your funds in the marketplace to your CurrencyFair account and send you an email informing you of such cancellation and transfer.

10.3 CurrencyFair reserves the right to suspend the marketplace at any time and for any length of time. While the marketplace is suspended you will not be able to place orders but you will be able to cancel open orders. During suspension CurrencyFair will not cancel any open orders.

10.4 CurrencyFair is not liable to you for any loss, damage, claim or compensation (including loss of profit or loss of use) incurred by you from your inability to use the Website or the products or services offered through or by the Website during the periods in which the marketplace is closed or suspended.

11. Provisions relating to the formation of a contract between you and CurrencyFair

11.1 Please follow the steps on the screen in order to place or match an order. CurrencyFair reserves the right to ask for further information before placing or matching the order in the market.

11.2 CurrencyFair will use various procedures to authenticate each order for the purposes of law and regulations including anti-money laundering regulations. CurrencyFair reserves the right to decline to continue to process any part of your proposed order at any time.

11.3 You will be able to correct the details of your order any time up until the order enters matched status. After that point you will no longer be able to correct details of your order.

11.4 CurrencyFair will send you an email acknowledgement of your proposed order once it has received it but please note that this is an acknowledgement only and does not constitute acceptance of your proposed order by CurrencyFair.

11.5 All orders placed are subject to matching by CurrencyFair and CurrencyFair will confirm such matching to you by sending you an email that confirms that the order has been matched. The contract between CurrencyFair and you will only be formed once CurrencyFair sends you the confirmation email that your order has been matched. Until that time there will be no binding arrangement for CurrencyFair to supply you with any foreign currency or other services. You should print and retain a copy of the confirmation email for your records.

11.6 CurrencyFair is entitled to refuse, withdraw or cancel your proposed or matched order at any time, for any reason.

11.7 Should your proposed or matched order be cancelled before being processed CurrencyFair will seek confirmation from you as to whether you wish the cleared balance of your CurrencyFair accounts transferred as per your specific instructions. In the event a proposed or matched order is cancelled on the instructions of any law enforcement agency or regulatory body CurrencyFair may retain all or any of your money if it is required to do so by law and then deal with it as ordered by a court or other body of competent jurisdiction.

11.8 You are responsible for any additional costs incurred by CurrencyFair in the event you have provided incorrect payment instructions for the purpose of transferring funds from your CurrencyFair account.

12. Deposits and Transfers of Funds

12.1 You shall not be entitled to any interest on funds held in your CurrencyFair account.

12.2 CurrencyFair may deduct from any deposits or transfers such amounts as may be required by law or as may be charged by CurrencyFair in respect of transfer or other charges owed to CurrencyFair.

12.3 You agree and represent that all funds deposited by you in respect of any order will be legally and beneficially owned by you in full and will not be subject to any charge or lien or other encumbrance of any kind.

12.4 All funds deposited by you under these Terms may be used by CurrencyFair in the performance of its own obligations to any counterparty of CurrencyFair or otherwise in relation to your order.

13. General

13.1 If any provisions of these terms and conditions including these disclaimers and limitations shall be unlawful or unenforceable then such provisions shall fall away and shall not affect the validity and enforceability of the remaining terms. Your statutory rights remain unaffected.

14. Privacy and data protection

14.1 CurrencyFair processes information about you in accordance with its privacy policy here. By using the Website you consent to such processing and you confirm that all data you provide is accurate.

14.2 Third Party Analytics. “By using CurrencyFair, you agree to the use of third party analytics.

15. Governing Law and changes to these terms and conditions

15.1 All use of the Website and these terms and conditions is governed by English laws.

15.2 All disputes arising out of the use of the Website and/or any services or products provided by CurrencyFair or any dispute relating to these terms and conditions shall be resolved by the English Courts.

16. Anti-money laundering procedures

16.1 CurrencyFair Limited is registered with the Financial Conduct Authority (FCA) under the Temporary Permissions Regime (TPR), registration number FRN 522602. CurrencyFair (UK) Limited is in the process of applying for an electronic money institution (EMI) license with the FCA.The FCA and its regulations require EMIs, amongst other things, to apply anti-money laundering and counter financing terrorism procedures aimed at detecting and preventing financial crime. Our staff are fully conversant with Anti-Money Laundering guidelines and are aware of their responsibilities in the monitoring and reporting of any actions that raise suspicion or give cause for concern. CurrencyFair UK Ltd is a subsidiary of CurrencyFair Limited, a regulated Payment Institution authorised by the Central Bank of Ireland pursuant to Regulation 18 of the European Union (Payment Services) Regulations 2018.

16.2 CurrencyFair may utilise the services of a third party in order to confirm your identity as part of the registration process.

16.3 CurrencyFair reserves the right to collect identification from you prior to the depositing funds and placement or matching of an order. In general, CurrencyFair collects identification in the form of a copy of a passport/drivers licence and a utility bill showing your current residential address dated within the last three months.

16.4 You should assume all information provided to CurrencyFair is available to regulatory authorities in both the country of origin of the funds, and the destination country of the funds.

16.5 You represent and warrant that the monies transferred to your account with CurrencyFair are not connected in any manner to any unlawful or illegal activity.

16.6 CurrencyFair reserves the right at all times to refuse to process any proposed or matched order which it believes in its sole discretion, is connected in any manner to any unlawful or illegal purpose. We have a legal obligation to report to the UK National Crime Authority any such suspicious transactions.

16.7 CurrencyFair is obliged by law to monitor any unusual or suspicious transactions of any size taking place where we have reasons to believe the money is derived from suspicious, unlawful or illegal activity. CurrencyFair reserves the right to review such transactions. In the event that this review causes a delay to the deposit, trade or transfer, Currency is not liable for any late fees, unpaid invoices or any other costs associated with the transaction.

16.8 There is a statutory obligation on all CurrencyFair employees and their agents to report suspicious transactions to the UK authorities. Where any such report is made, CurrencyFair accepts no liability for any delay in transmission of or confiscation of the funds.

17. Refer a friend programme

17.1 Currencyfair may from time to time run a refer a friend program or other such promotional activities. When such is run by Currencyfair the terms and conditions thereof can be found here.

Safeguarding of Client Funds

The security of your funds while they are with us is our primary concern.  Moorwand holds all clientfunds in a dedicated customer segregated account held by Moorwand with an FCA regulatedfinancial institution. These accounts are separate from any Moorwand corporate accounts. Clientfunds are never commingled with those of Moorwand and they cannot be used to settle any ofMoorwand’s own obligations. In the event of Moorwand’s insolvency, you will be able to make aclaim for your funds from the segregated accounts.

Regulation

CurrencyFair Ltd is regulated by the Central Bank of Ireland. CurrencyFair Ltd does not carry on any regulated activities in the UK, namely payment services or e-money services. Rather it has partnered with Moorwand Ltd (Moorwand), an FCA authorised payment services provider and e-money institution (FRN: 900709) to carry on these elements of the service we provide to you. The FCA imposes minimum capital requirements on Moorwand and ensures the highest standards for internal policies and procedures, detection of financial crime and the protection of client funds. You can check the FCA register here for details of Moorwand’s permissions. 

CurrencyFair Anti-Money Laundering Policy

CurrencyFair complies with the Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) legislation. These legal requirements mean CurrencyFair will report any suspicious transactions or fraudulent use of identification documents. To do this we maintain very high standards that require us to:

• Verify all client identification and address details, either by electronic means or the provision of required documentation.
• Monitor and review all account and transaction records.
• Report suspicious transactions to the appropriate authority including the UK National Crime Agency.
• Train all staff in the AML/CFT requirements.
• Retain client data for a minimum 5 years after the relationship ends.
• Comply with the UK General Data Protection Regulation.

CurrencyFair may require its clients to provide additional information or documentation to fulfil our legal obligations and where it deems appropriate refuse any client or transaction that is suspected of being related to financial crime.