Currency Exchange Security - Investing Money Abroad
Security is always of the highest importance when transferring large sums of money. Your money is completely safe with World First.
Accounts and Collateral: All funds sent to us are held in segregated client accounts that are only used for client transactions and are totally independent of World First's business accounts.
We maintain approx $3,000,000 collateral with our banks as security against transactions which they have a lien over. When you enter into a transaction with us, we do an irrevocable covering deal with our bank. It is this transaction that turns your sold currency into your bought currency and from which the outward payment is made.
If you prefer you can send your funds within your own bank - we hold client accounts with Barclays, HSBC, Bank of Ireland, Royal Bank of Scotland, Commerz Bank (Germany) and ANZ (New Zealand). We also have correspondent banking accounts in virtually every country in the world.
We transacted over $1 billion in 2007.
Regulation: We are regulated by HM Revenue & Customs as a Money Services Business. You can ring their advice line on 0845 010 9000. You need to choose option 2 or ask for the Money Laundering section. They will confirm that our Money Services Business Money Laundering registration no. is 12164508. You may need to quote our postcode: SW11 2JB. Alternatively you can call the Money Laundering registration team on 01702 366 312 and quote our registration no as above.
As a Money Services Business we follow a strict code which incorporates all the requirements of the 1993 and 2003 Money Laundering Regulations and other legislation. We maintain strict security, documentation and audit processes.
Registration of World First's New Zealand office. World First UK Ltd is registered as an Overseas Company with the Ministry of Economic Development Companies Office in New Zealand. Company No: 1737580. You can visit the Ministry of Economic Development website at the following web address to access their WebCheck service:
http://www.companies.govt.nz/cms/banner_template/CNAME - type in WORLD FIRST UK LIMITED to see our listing.
Rating: We have an A1 Credit Rating from Dun and Bradstreet, the global ratings agency. Our DUNS number is: 73-765-1252. This can be verified at
www.dnb.com.
World First UK Ltd is registered as a Limited Company in England and Wales, Company No: 05022388. You can visit the
Companies House website to access their WebCheck service. Our statutory accounts are also available at the site and they demonstrate that World First is a profitable company with no debts/liabilities. These accounts are produced and provided to Companies House by our accountants: PKF Pannell Kerr Forster.
World First Markets Ltd is authorised and regulated in the UK by the Financial Services Authority. Registration No: 477561
Client References: We are always happy to provide references from existing clients in your area. Please ask if you would like contact details of an existing client.
Bank References: You are welcome to request a bank status reference on World First. You order this through your own bank for our account with Barclays Bank. If you would like to do this please let us know and we will send you our account details.
Offices: We welcome visitors to our offices in London. We are situated just 5 minutes from Clapham Junction rail station, accessible from Waterloo and Victoria. Our offices are open 08:30 to 18:30 Monday to Thursday and 08:30 to 18:00 on Fridays.
ESCROW: If your amount is over £300,000, we also offer an ESCROW service through our solicitors, Mackrell Turner Garrett (Est 1845) whereby you send your funds to their client trust account at Coutts Bank. We then make your irrevocable outward payment and they only release your funds to us once they have received proof of an irrevocable payment from our bank to your recipient account.
