CLIENT MONEY & COMPLIANCE
Two FCA-authorised institutions process every payment and hold every balance. Funds are safeguarded under the Electronic Money Regulations. Ring-fenced, protected from creditors, fully returnable. You deal with Medlock & Thames directly. The rules do the rest.
OUR AUTHORISED PARTNERS
You deal with Medlock & Thames. Behind your account sit two FCA-authorised institutions whose capital adequacy, client protection and risk management are reviewed by the regulator. Depending on your requirements, we will determine which partner best suits your needs. Regardless of which institution is engaged, you will always be dealing with Medlock & Thames directly.
E-MONEY AND PAYMENTS, FRN 900199
The Currencycloud Limited is authorised by the FCA under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199). Registered in England No. 06323311. Registered Office: 1 Sheldon Square, London, W2 6TT. Currencycloud was acquired by Visa Inc. in 2021 and remains fully FCA-authorised.
FOREIGN CURRENCY EXCHANGE, FRN 504346
Global Currency Exchange Network Ltd T/A GC Partners is authorised by the FCA under the Payment Services Regulations 2017 (FRN: 504346) and registered as a Money Services Business with HMRC (registration 12137189). Registered in England and Wales, company number 04675786. Registered Office: 3rd Floor, 100 New Bond Street, London, W1S 1SP.
Full details of Currencycloud's regulation can be found on the FCA register. Full details of GC Partners' regulation can be found on the FCA register.
THE FCA FRAMEWORK
Capital requirements are set by reference to our liquidity providers' activity levels and reviewed by the FCA on an annual basis. Medlock & Thames does not hold client funds directly and therefore carries no client money capital requirement of its own.
Client funds are ring-fenced at a credit institution under the safeguarding rules, held separately from operational funds, protected from creditors, and fully returnable by an administrator in the unlikely event of insolvency.
Currencycloud and GC Partners maintain strict governance and operational controls to verify the accuracy and integrity of every transaction they settle. Each institution is subject to annual FCA review across all three standards.
HOW YOUR FUNDS ARE SAFEGUARDED
Safeguarding is a legal requirement, not a marketing claim. The institutions that hold your funds are bound by the Electronic Money Regulations and the Payment Services Regulations. Medlock & Thames does not hold client funds in its own accounts at any point.
REGULATORY SAFEGUARDING
When funds arrive in your account, our regulated partners hold them at a reputable bank or under an insurance policy in accordance with the Electronic Money and Payment Services Regulations. Safeguarding applies from the moment funds are received until they are paid out to your beneficiary. Contact us at any time for a breakdown of safeguarded amounts.
UK DATA PROTECTION ACT, ICO ZA532056
Medlock & Thames is registered with the Information Commissioner's Office under the UK Data Protection Act (registration ZA532056). We do not share client information with third parties. All data is held on secure remote servers and handled in line with our internal data governance guidelines.
COMPLIANCE POSTURE
Medlock & Thames does not take proprietary positions or speculate on currency markets. Every trade executed is on behalf of a named client at a disclosed rate. Questions about the security of your funds can be directed to the team or to compliance@medlockandthames.com.
REGULATORY HISTORY
Medlock & Thames was originally authorised by the FCA as a PSD Agent. Rule changes in 2023 enabled the business to passport its accreditation through its liquidity partners.
Medlock & Thames Ltd (company number 11973815, registered at Adamson House, Towers Business Park, Didsbury, Manchester, M20 2YY) was authorised by the Financial Conduct Authority as a Payment Services Directive (PSD) Agent, reference number 945460.
Rule changes introduced in 2023 enabled Medlock & Thames to passport its FCA accreditation through its regulated liquidity partners, Currencycloud and GC Partners, rather than maintaining a direct FCA authorisation. The result is the same standard of regulatory oversight, delivered through two institutions that are themselves subject to annual FCA supervision across capital adequacy, client protection and risk management.
Full details of Medlock & Thames' previous PSD Agent registration can be found on the FCA register.
Medlock & Thames is registered with the Information Commissioner's Office (ICO) under the UK Data Protection Act. ICO registration number ZA532056. We do not share client information with third parties. All client data is held on secure remote servers and handled in accordance with Medlock & Thames internal guidelines.
UNITED KINGDOM END CUSTOMERS: Payment and e-money services are provided by The Currency Cloud Limited. Registered in England No. 06323311. Registered Office: 1 Sheldon Square, London, W2 6TT, United Kingdom. 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) | UNITED STATES END CUSTOMERS: Payment services in the United States are provided by Visa Global Services Inc. (VGSI), a licensed money transmitter (NMLS ID 181032) in the states listed here: https://usa.visa.com/legal/visa-global-services-licenses.html VGSI is licensed as a money transmitter by the New York Department of Financial Services. Mailing address: 900 Metro Center Blvd, Mailstop 1Z, Foster City, CA 94404. VGSI is also a registered Money Services Business (“MSB”) with FinCEN and a registered Foreign MSB with FINTRAC. For live customer support contact VGSI at (888) 733-0041 | EEA END CUSTOMERS: The issuance of e-money and the provision of related payment services for Medlock & Thames are provided by CurrencyCloud B.V. CurrencyCloud B.V. is registered with the Dutch Chamber of Commerce in the Netherlands under number 72186178. Registered office Mr. Treublaan 7, 1097 DP, Amsterdam, Netherlands. CurrencyCloud B.V. is licensed and regulated by De Nederlandsche Bank as an Electronic Money Institution (Relation Number: R142701). https://www.currencycloud.com/legal/terms/ | Medlock & Thames’ payment and foreign currency exchange services are provided by Global Currency Exchange Network Ltd T/A GC Partners. Global Currency Exchange Network Ltd is authorised by the FCA under the Payment Services Regulations, 2017 (FRN: 504346). Registered as a Money Services Business, regulated by HM Revenue & Customs (“HMRC”) under the Money Laundering Regulations 2017. (Registration number is 12137189). Registered in England and Wales. Company number 04675786. Registered Office 3rd Floor 100 New Bond Street, London, England, W1S 1SP.