Due Diligence

 

All of the foreign currency business of Holiday Money Cards is transacted through our associated company Global Currency Exchange Network Limited (GCEN) who have a dedicated team of experienced professional foreign currency traders ready and able to provide a first class, quality service to all our clients.

From 1st November 2009 the Payment Services Regulations (PSR) were put into force by the Financial Services Authority (FSA). The PSR require that non-bank payment service providers, such as GCEN, need to be either registered with, or authorised by the FSA. These regulations are designed to ensure customer protection.

Authorised Payment Institutions, including GCEN, are required to safeguard client funds held in relation to an electronic payment. GCEN have to meet stringent criteria set by the FSA in terms of corporate governance, solvency, risk identification and management. GCEN is fully authorised by the FSA to provide payment services as an Authorised Payment Institution (API). You can search the list of FSA authorised payment service companies at http://www.fsa.gov.uk/register/psdFirmSearchForm.do

The Financial Services Authority Payment Institute Number for GCEN is 504346 and the HM Revenue and Customs Money Laundering Registration Number is 12137189.

If you require a hard copy of our Due Diligence Package, please make a request HERE.