Money Laundering Regulations

Money Laundering Regulations (MLR)

We are registered under the Money Laundering Regulations (MLR), which are governed by HMRC. We have a duty to comply with these regulations and implement additional diligence measures for high-value transactions. To comply with the MLR, all information is stored for five years.

Transactions eligible for additional security checks

Transactions over £1,000 GBP (one or combined transactions within 12 months)

We require a copy of a valid photo ID to confirm identity, permanent residential address, and date of birth (DOB). Please note that accepted photo ID is a UK Photo ID, Driving Licence, or passport. All payments must be made to a UK bank account and to the named account holder conducting the transaction.

High-Value Banknote Transactions

Exchange requests for any of the following (listed) notes will require a copy of a valid photo ID to confirm identity, permanent residential address, DOB and confirmation of the source of funds.

Banknotes:  €500 Euro, 1,000 Deutsche Marks, 1,000 Swiss Francs, 1,000 Singapore Dollars, 1,000 Brunei Dollars.

Sending Currency from Outside of the UK

So that you know, we do not exchange currency sent to us from outside the UK. Unsolicited currency we receive from outside the UK may be returned at the sender’s expense.