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Details - Information last confirmed on October 17, 2020

UK FCA regulated sub licensed Payment Institution for sale with unique UK banking money transfer and FX facility in place (UK commercial bank - no EMI solution).

The business has no limits on money transfer or FX transactions globally. It has direct access to the FX wholesale market and can offer clients the best bank beating exchange rates available. It can trade in all non restricted currencies world-wide.

The Company is current with all filings, it has all affiliate licenses and other requirements in place and is ready to trade. Please note after 31/12/20 there will be no PSD Agents operating from the UK and this is the licensing model replacing the PSD system. The Payment Service Directive (PSD) is a EU regulation which terminates 31/12/2020 due to Brexit.

The Company comes with:

- Unique UK money transfer and FX banking facility (commercial UK bank - no EMI solution);
- Segregated GBP, USD & EUR accounts (UK clearing bank - no EMI);
- Client IBAN account issuing service GBP, USD & EUR;
- FX liquidity in all major currencies at wholesale rates;
- Own trading platform featuring multi-level permissions, variable currency spreads, ability to overwrite spreads, manage beneficiaries, book trades, create payments etc;
- Automated payment, FX and client onboarding software. Automated facial recognition customer onboarding process – accounts open in minutes;
- CRM portal for managing customer relationships, book trades, manage beneficiaries etc.;
- Outsourced compliance to include onboarding of personal and business customers, transaction monitoring, beneficiary screening, FCA reporting, capital resources, annual audits etc.
- Branded client debit card program (subject to additional set up costs);
- Cash collection solutions.
- Fully integrated website with all functions automated.

The business is offering money transfer, foreign exchange, prepaid debit cards (subject to set up cost) and IBAN client account services to private individuals and businesses globally.

FCA operational and compliance manuals are included. All compliance, FCA reporting & filing is included via the license issuing institution. The operational cost for the Company including compliance and FCA audits is £2,500 per month. The Company can be operated from any UK location. It is a license requirement the Company has physical offices. We can provide London offices at a cost of approximately £500 per month.

The firm's approved persons are, subject to negotiation, prepared to fulfil the firm's control functions for a period of time in order to facilitate a smooth handover of the firm to a new owner.

Price £35,000. Please note this is a fully regulated global money transfer and FX business with no limits, including UK bank accounts and operational automated approved software.

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Disclaimer: DealStream has not independently verified any of the information in this listing and makes no warranty as to its accuracy or completeness.