Your Money, Our Security

Ensuring the safety of client funds is of paramount importance to our business. Client funds are safeguarded by our FCA-regulated e-money partners at a credit institution. Medlock & Thames is a registered business (number 11973815) and is based at Towers Business Park, Manchester, M20 2YY.

Partners

Medlock & Thames are in a number of partnerships that enables us to offer a comprehensive range of solutions to all businesses and individuals. Depending on your specific requirements, we will choose which partner(s) best suit your needs. Regardless of which partner we choose, you will always be dealing with Medlock & Thames directly.

Currencycloud
Foreign currency exchange payment services for Medlock & Thames (Non-MiFID) are provided by The Currencycloud Limited. Registered in England No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currencycloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of Electronic Money (Ref. Number: 900199). Full details of their regulation can be found on the FCA register.

Our partner/payment services provider Currencycloud has been acquired by Visa Inc.

Equals Group
Payment Services are provided by Equals Connect Limited, registered in England and Wales (registered no. 07131446). Registered Office: Vintners’ Place, 68 Upper Thames St, London, EC4V 3BJ. Equals Connect Limited are authorised by the Financial Conduct Authority to provide payment services (FRN: 671508). Full details of their regulation can be found on the FCA register.

Equals are one of the fastest growing currency brokerages in the UK and have served over 1 million customers in just over 13 years. They are also one of the biggest pre-paid currency card providers via their Mastercard solution.

GC Partners
Medlock & Thames’ 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. Full details of their regulation can be found on the FCA register.

FCA Regulation

Medlock & Thames was authorised by the Financial Conduct Authority as a PSD Agent (Ref. Number: 945460). Rule changes in 2023 enabled the business to passport it’s FCA accreditation through its liquidity partners rather than directly with the FCA. Full details of our previous regulation can be found on the FCA register.

The FCA requires standards to be met across three areas – Currencycloud, Equals and GC Partners exceed in all three of these standards which are as follows:

Capital Adequacy
The levels of capital requirements are based on our liquidity providers level of activity. The FCA reviews capital adequacy with them on an annual basis.

Client Protection
Funds are safeguarded by our FCA-regulated e-money partners at a credit institution. This ensures all Medlock & Thames client funds can never be misappropriated and are safeguarded from creditors. In the unlikely event of either company going out of business, your funds are fully protected and would be promptly returned by an administrator.

Robust Internal Risk Management
Currencycloud, Equals and GC Partners have strict governance and operational processes in place to scrutinise the accuracy of each of their transactions.

Safeguarding

When funds are posted to your account, in line with regulatory requirements, the regulated [payment/e-money] institutions who we work with safeguard your funds. This means that the funds shown in your payment account or e-wallet are held at reputable banks or covered by an insurance policy, and most importantly, are protected for you in the event of our partner [e-money/payment] institutions’, or our, insolvency. Our partners stop safeguarding your funds when the money has been paid out of your account to your beneficiary’s account. If you require a breakdown of the exact amounts of funds you have safeguarded at each of our [e-money/payments partners] at a particular point in time, please do not hesitate to contact us.

Data Protection Act

Medlock & Thames is registered with the Information Commissioner’s Office (ICO) under the UK Data Protection Act; our registration number is ZA532056. We do not share any client information with third parties and all client information is held securely on remote servers. Client information, paper or electronic, is handled with due care and in line with Medlock & Thames internal guidelines.

Further Information

Medlock & Thames never speculates on the currency markets. If you have any further questions regarding security of funds please speak to one of the team or email compliance@medlockandthames.com