Senior HR Officer
Save up to 30%* on our Merchant Card Processing.
Dear Customer, We have launched AI powered KYC & KYB facility for New customer account opening.
As an Electronic Money Institution (EMI), we receive, collect and store funds for our clients, as well as facilitating FX conversions and processing outbound payments. Any funds held on a client’s behalf, for the provision of a conversion or payment service, are subject to safeguarding – ensuring that your funds are always protected and can be issued back should Mex Money go into administration or liquidation. Unlike holding money in a standard bank account, all of our clients’ funds are protected, regardless of the value.
We separate clients’ funds from our company funds and place them in safeguarding accounts held with reputable UK and EU banks. If Mex Money was to become insolvent, the funds held in our safeguarding accounts would form an asset pool from which claims of the e-money holders (our clients) would be paid above those of other creditors. The bank(s) or authorized credit institutions have no rights over funds in Mex Money’s safeguarding accounts. Mex Money has no rights over our clients’ accounts (other than where specified in our Terms and Conditions).
It’s important to be clear that, as we’re not a bank, we can only safeguard funds for our clients, and not our clients’ customers. We encourage you to follow safeguarding protocols and regulations when it comes to managing your own customers’ funds. As we’re not a credit institution we cannot, based on current regulations, offer you safeguarding accounts for your customers.