Regulation

How we’re regulated

The company is regulated by the Financial Conduct Authority as a Small Payment Institution (No. 764090) and supervised by HM Revenue and Customs as a Money Service Business (No. XNML00000167088). Money is deposited directly by the person giving security into our segregated client account at Barclays Bank plc. which means that it is safeguarded under the Payment Services Regulations 2017.

As explained in Clause 1.4 of our Terms of Business, if the Person Giving Security (PGS) is a “consumer” he or she has a right to cancel under Regulation 9 of the Financial Services (Distance Marketing) Regulations 2004. In such cases security for expenses will only be irrevocably effective 14 days after the Security Sum and our fee have been received, accepted and fully processed by us. The regulations do not allow any opt-out from this provision.