Why can the fee and Security Sum not be sent from a non-UK bank account?

Under HMRC’s supervision of Money Service Businesses under the Money Laundering Regulations and the FCA’s rules governing Small Payment Institutions we can only accept money transfers from UK accounts at banks authorised by the Prudential Regulatory Authority (PRA) or suitably authorised by the Financial Conduct Authority (FCA).

If in doubt, this can usually be confirmed by your account IBAN number which should appear on your statement. If the IBAN number starts with “GB” it is probably a UK bank account. Where the UK bank is a branch of an overseas bank, further checks may be required in accordance with our Anti-Money Laundering Policy.

Be aware that some Money Service Businesses offer virtual IBAN numbers and are not necessarily regulated by the PRA or have the requisite permissions from the FCA. These will not be acceptable as sources of funds.