Client assets, financials and ratings
Ensuring the safety and security of your money is central to our business. Our parent company World First UK Limited is authorized by the Financial Conduct Authority ("FCA") as an Electronic Money Institution under the Electronic Money Regulations 2011. Our FCA Firm Reference number is 900508. As a member of the World First Group* of companies, World First USA, Inc complies fully with these regulations to ensure your funds are approproately safeguarded and segregated from business funds in line with the requirements. Being authorized and regulated requires our companies to hold sufficient capital to protect our business and further safeguard our customers.
World First USA, is licensed as a Money Transmitter Business that operates under USA anti-money laundering laws and regulations. As a non-depository financial institution World First USA, Inc follows all rules and guidance of FinCEN and the Office of Foreign Assets Control (OFAC), including the Bank Secrecy Act (BSA) and USA Patriot Act 2001.
We maintain high levels of capital and have a 3A2 credit rating from Dun and Bradstreet.
World First never speculates on the currency markets. When you enter into a transaction with us, we enter into a matching irrevocable covering deal with our bank. It is this transaction that turns your sold currency into your bought currency and from which your outward payment is made.
Our two main transaction banks are Barclays and Citibank. We additionally hold client accounts with Royal Bank of Scotland and Commerzbank (Germany).
Our financial position
The World First Group* is in a very strong financial position and we are totally transparent about our financial statements. We have grown every year since our business was founded.
We have professional indemnity insurance, underwritten by AIG Europe Ltd and Nexus Executive Risks Ltd which covers and protects the companies in the World First Group.
You can view our consolidated financial accounts below or download last year's accounts (audited by haysmacintyre) here.
This mark shows that World First has met the enhancements to the current standard for Reporting on Controls at a Service Organization.
We have a 3A2 Credit Rating from Dun and Bradstreet. Dun & Bradstreet are the global ratings agency. Our DUNS number is 73-765-1252. You can look this up on the Dun & Bradstreet website.
We're always happy to provide references from existing clients - please ask and we'll put you in touch. We'll always try to provide a referee who lives near you or for corporate clients a company in a similar field of business.
You're welcome to request a bank status reference about us through your own bank. Our accounts are held with Barclays bank. If you'd like to do this, please let us know and we'll send you our account details.