Regulatory

Optimal Currency was founded in 2018 by Directors David Worthington, Charlotte Worthington & Robert Ingleby who have a combined 50+ years in Financial Services. Since inception, the Principles of Optimal Currency have placed customer security at the heart of what we do. In all things we do, we are guided by the following 6 principles:

1. We are dedicated to the well-being and success of our employees, customers, and strategic partners.
2. We strive for profitable growth by exceeding the expectations of our customers and partners and through the high quality of our service.
3. We adhere strictly to all regulatory requirements and deal with any enquiries from our regulators openly and promptly.
4. The security and protection of customer assets and data is of paramount importance.
5. We keep our costs under control and manage our finances prudently.
6. We strive for innovation, striking the balance between embracing new initiatives and careful risk management.

Very often our customers are transferring large sums of money internationally, either for a property transaction or a business need. In many instances, this represents a customer’s life savings or a large proportion of a business’s working capital, so we don’t leave anything to chance. We will always make clear to all customers the details of our products and services and do all we can to ensure the safety of your money and your data.

Here are some important pieces of regulatory information that we believe all customers should know, including links to third party sites such as the FCA and Companies House so you can check details for yourself.

• Optimal Currency Limited is a fully incorporated company registered in England and Wales under company number 11627191. Our registered office is OX9, 13 Upper High Street, Thame, OX9 3ER and our main office telephone number is +44(0)1296 767444. If you would like to verify these details, please head to the UK Government website and search Optimal Currency Limited, company number 11627191.
• Optimal Currency Limited is authorised and regulated by the Financial Conduct Authority (FCA) as an Authorised Payment Institution under the Payment Services Regulations 2017 (PSRs) with Firm Reference Number (FRN) 830790. We are supervised by the FCA for compliance with the Money Laundering Regulations (MLRs). If you would like to confirm our FCA authorisation, including the permissions we hold with them, you can visit our listing on the FCA’s Financial Service Register, select the option to search for firms and enter our FRN 830790.
• We are a member of a leading industry body the Association of Foreign Exchange and Payment Companies (AFEP) who were established to ensure shared high standards across the payments and FX sectors. As you can see here, AFEP is a not-for-profit organisation with a mission to raise standards from within the industry.
• We offer several different services and products to customers in line with their individual needs. Our Foreign Exchange Services (including our non-regulated Forward Contracts) are non-regulated activities and therefore, they are outside the scope of the PSRs 2017 and our API licence with the FCA. Please read our Terms and Conditions, in particular section 3, to see clear pricing of our Foreign Exchange Service.
• Optimal Currency maintains relevant funds related to our Payment Services activities in a segregated account held by Banking Circle. Client funds are kept in a way that they do not commingle with Optimal’s own money or our unregulated activities. Client funds are also insulated against the claims of any other of Optimal’s creditors. By doing this, Optimal provides assurance that it will not use client funds to pay its own debts and obligations, and in the event of Optimal Currency’s insolvency, they will be used to repay clients after applicable costs are deducted by the administrator or liquidators of the Firm during an insolvency process.
• Client funds are also protected from any interest in, recourse against, or right of set-off from the financial institution where Optimal Currency holds Client funds. We regularly carry out internal audits to demonstrate that we are safeguarding Client funds in compliance with applicable regulations in the UK. These safeguard measures only apply to funds related to our regulated Payment Services and do not extend to the Firm’s unregulated offering of Foreign Exchange Services.
• It is important to note that Optimal Currency is not a banking institution and does not provide banking services. The services that Optimal offers are not covered by the Financial Services Compensation Scheme (FSCS).
• If Optimal Currency were to go out of business, although Payment Services funds are safeguarded as per the requirement of regulation 23 of the PSRs 2017, it could take longer for monies to be refunded and some costs could be deducted by the administrator or liquidator of the Firm during the insolvency process so Customers may not get all their monies back.
• Clients can contact us directly or visit the FCA website at https://www.fca.org.uk/consumers/using-payment-service-providers to find guidance when deciding whether the level of protection we offer is appropriate in your circumstances.
• From the first point of contact with us, customers will be allocated a dedicated broker who will act as a customer service liaison able to answer any questions you may have in terms of our regulatory permissions and how these affect you. If your dedicated broker is unavailable at the time you call, all members of the client facing team are fully trained and will be happy to assist you. You can contact the team within our business hours (08.30 -17.30 Monday to Thursday, 08.30 -17.00 Friday) on +44(0)1296 767444 or by email on info@optimalcurrency.co.uk
• As so many customers have been delighted with our service when assisting them with their currency exchange needs, we have lots of happy customers who have left reviews. We use Trustpilot’s automated invitation tool to collect customer reviews as this means anyone can leave a review of our service, whatever it may be. Take a look at our reviews here.

If after reading this page anything remains unclear or you would simply like some further clarification or guidance regarding our security procedures, then please call us on +44 (0)1296 767444. We want you to feel at ease when transferring your funds and know that your funds are in safe hands. We are happy to assist you with any questions you may have.