Your Money, Our Security
Ensuring the safety of client funds is of paramount importance to our business. Our payment and foreign exchange service providers segregate and safeguard all client funds in accordance with FCA regulations. Medlock & Thames is a registered business (number 11973815) and is based at Towers Business Park, Manchester, M20 2YY. Medlock & Thames is authorised by the Financial Conduct Authority as a PSD Agent (Ref. Number: 945460). Full details of our regulation can be found on the FCA register.
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.
Ebury Partners
Medlock & Thames’ Payment and Foreign Currency Exchange Services are provided by Ebury Partners UK Limited. Medlock & Thames is partnered with Ebury Partners UK Limited as a Programme Manager. Ebury Partners UK Limited is authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution (Financial Services Register No. 900797). Full details of their regulation can be found on the FCA register.
Ebury Partners UK Limited is a licensed entity that is permitted to offer spots and forwards for commercial purposes of facilitating payment for identifiable goods or services and direct investments, as per the applicable Markets in Financial Instruments Directive II (MiFID II) exemption. Regulated investment products, as defined in MiFID II, fall out of the scope of this license and are not permitted to be traded under Ebury Partners UK Limited. Ebury Partners UK Limited is registered with the Information Commissioner’s Office, with registration number: ZA345828.
Hong Kong Client payment and foreign currency exchange services for Medlock & Thames (Non-MiFID) are provided by Ebury Partners Hong Kong Limited. Medlock & Thames is partnered with Ebury Partners Hong Kong Limited as a programme manager. Ebury Partners Hong Kong Limited are authorised and regulated by the Customs and Excise Department as a Money Services Operator to carry out remittance and money changing services (license number 18-09-02555).
Ebury Partners are one of the fastest growing FinTech companies in the world and transacted over £12.5 billion last year to over 40,000 clients across 22 offices globally.
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
The FCA requires standards to be met across three areas – Equals, Ebury and Currencycloud 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
Equals, Ebury and Currencycloud 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 [email protected]