U-Transfer is a licensed Money Service Business (MSB) with Her Majesty’s Revenue & Customes. Our MSB Number is 12151588.

U-Transfer partners together with our customers, regulatory agencies and the international Community in the global fight against money laundering and terrorist financing.

Money laundering is by its nature a secretive activity usually carried out by well-financed individuals or groups, who employ elaborate measures to try to conceal it. Techniques employed in this respect are constantly being refined in an effort to try to keep ahead of regulatory and law enforcement agencies.

Under current Money Laundering Regulations, all providers of money transmission services and their customers are required to maintain certain procedures and obtain information. As a company, we view money laundering and all forms of terrorist financing as serious criminal offences and U-Transfer has been specifically designed to provide for your ease and convenience while ensuring compliance with HMCE regulations in respect of Money Transmission Services.

Essential Money Laundering Compliance features of U–Transfer are as follows:

• 1. OFAC

  The U Transfer technology is integrated with OFAC technology which automatically bars the processing of transactions by known terrorists, drug dealers and other known money laundering offenders.

• 2. Obtain and keep verifiable forms of Identification from all our customers.

  We are committed to building a mutually beneficial long term relationship with our U Transfer customers as such, please be informed that recently there have been some changes introduced by the EU Payment Regulation and the EU Money Laundering Regulations pertaining to ‘Identification Procedures for Non Face to Face Customers’.

• As a result of these Laws, our Company is obliged to take and verify customer ID for any single money transfer transaction which is more than €1,000 (.i.e. equivalent to about £650) and for any series of smaller transactions which are ‘linked’ in some way and which together exceed more than this amount.

• In verifying our Non Face to Face Customer’s ID, the Law requires that the Customer ID must be ‘certified’. Please note that these Laws applies without exception to all UK Money Transfer Companies.

• Consequently we will require you to independently certified your ID and post the certified copy to us.

  Your ID can be certified in two ways.:

• 1.- Your ID can be certified at a UK post office for a fee of £7 by using the ‘IDENTITY CHECKING SERVICE’ available at the UK post office (you may want to contact the post office on 0845 722 3344 in order to get information on your nearest post office that offers this particular service.

• For further details you can check post office website www.postoffice.co.uk. Once you have opened the post office website, please look down the page to the red section ‘Mail and Government’ and look under section entitled ‘passports’. You will see a link to the ‘identity checking service’.

• 2.- Or alternatively your ID may be certified by some group of persons who are not your family members with the words ‘this is a true Certified Copy’ with the certifier’s signature, name and address together with their qualifications. In this second alternative, the persons that may certify your ID are a ‘Lawyer, Teacher, Accountant, Doctor, Notary Public, Magistrate, a Minister of Religion or your Employer’.

• It’s that easy and simple and you are only required to get your ID certified once. The next time, you simply give us your Customer number.

  You have our complete assurance that the information contained in these documents will remain confidential in our files and well protected; the documents will not be disclosed to any third party in accordance with the Data Protection Act, 1998.  

• 3. Maximum Transaction Limits

  U-Transfer allows you to transfer money at your convenience, in line with this feature, maximum transaction limits have been set up to ?,000.00, after a certified copy of the Identification has been received as described above.

• 4. Updates

  Our U-Transfer customers will be furnished with regular updates on current trends and developments in the money transmission sector that will benefit you as our valued customer.