Regulatory Controls

FCA Regulation

In the UK, the Financial Conduct Authority (FCA) regulates A Place in the Sun Currency as an “Authorised Payment Institution” (API) under Firm Reference Number (FRN) 504353 and the Payment Services Regulations 2009 & 2017.

Being an API means;

• A Place in the Sun Currency operates Safeguarded Client Accounts, to keep currency bought by clients separate from business assets and bank accounts (safeguarding means that funds can be returned to clients quickly and easily if an API were to cease trading).
  • holds sufficient capital in the business to continue trading, should any trading difficulties arise
  • is answerable to the Financial Ombudsman Service for any complaints about payment services
  • must operate fair terms of business and be clear and transparent in all its dealings with clients

A Place in the Sun Currency is also a licensed Money Service Business (MSB) (registration number XMML00000167797) under HMRC’s supervision, and fully complies with all relevant Anti-Money Laundering & Terrorist Financing rules and regulations.

Payment Security

Each and every payment we send for our clients is comprehensively checked and verified before it is processed. This means your payment is screened to ensure that you are not making an illegal or potentially fraudulent transfer, adding the peace of mind that comes with using an experienced and responsible service for your overseas payments.