CurrencyCloud terms and conditions.
We understand that security of funds and data is imperative for all of our clients which is why we use a market leading platform through our partners Currencycloud which is compliant with all the latest regulations needed for any FCA-regulated e-money company. Please find the link to our up to date terms & conditions which are updated on a regular basis.
https://monetaefx.paydirect.io/registrations/ib-uk-terms
FCA Regulation – E-Money License
Payment services for Monetae Group Limited are provided by The Currency Cloud Limited. Registered in England No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199
CFSB – Community Federal Savings Bank
In the US Currency Cloud operates in partnership with CFSB to facilitate payments in all 50 states. CFSB fully owns the bank program and services are provided by The Currency Cloud Inc. CFSB is registered with the Federal Deposit Insurance Corporation (FDIC Certificate# 57129)
Safeguarding
All funds are safeguarded by our FCA-regulated e-money partners at a credit institution.
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.
Currencycloud
Currencycloud process over $1bn a month on behalf of hundreds of thousands of people and companies. Currencycloud are backed by some of the leading names in the investment community, including GV (Google Ventures), Sapphire Ventures, Anthemis and Notion Capital.
Data Security
We use a market leading platform through our partners Currencycloud which is compliant with:
| Physical Security | multiple high security Tier 4 Data Centres used by banks and other financial institutions |
| Network Security | firewalls are managed by dedicated staff and we undergo regular third party penetration tests, to ensure our service is secure |
| Encryption | all network traffic is encrypted and all sensitive customer data is a so stored in an encrypted format |
| Data Security | certified under ISO/IEC 27001:2013, the international best practice standard for information security management |
| Data Separation | multi-tenant architecture to ensure all customer data is stored separately from one another |
| Strong Access Control | unique ID’s for each individual and we require two step authentication for all access. |