Terms of Use of Service

This page (together with the documents referred to on it) tells you the terms and conditions ("Terms") on which we provide an online ordering facility ("Service") for foreign currency banknotes and traveller's cheques ("Currency") described on our website (our "Site") to you. Please read these terms and conditions carefully before using our Service to order any Currency from our Site. You should understand that by ordering any Currency, you agree to be bound by these Terms, and that subject to our right to vary these Terms, these Terms apply to each order for Currency that you place from time to time

You should print a copy of these terms and conditions for future reference.

Please tick the box on the registration page to confirm that you accept these terms and conditions. Please understand that if you refuse to accept these Terms, you will not be able to register to use our Service.

Information About Us is a site operated by Sterling Consortium Limited trading as Sterling ("We" or "Us"). We are registered in England and Wales under company number 05850613 and have our registered office at 50 Harrowby Street, London, W1H 5EE. Our VAT number is 239784024.

We are registered with The Financial Conduct Authority under the PSD Directive and are registered with HM Revenue and Customs as a Money Service Business. Our Money Service Business registration number is 12120971.

Our Service

Our Site is only intended for use by people resident in the United Kingdom. By placing an order for Currency through our Site, you warrant that you are legally capable of entering into binding contracts, you are at least 18 years old; and you are resident in and are accessing our site from within the United Kingdom.

You must register with Us in order to use the Service. As part of the registration process you agree that we may undertake appropriate checks (including electronic checks) to verify your identity. We may decline your application to register for our Service if we cannot verify your identity or for any other reason at our discretion.

Upon registration you will be issued with a customer ID and your password will be generated. You must treat such information as confidential, and you must not disclose it to any third party. You must not allow any other person to use your customer ID or password to use our Service. We have the right to disable any customer ID or password, whether chosen by you or allocated by us, at any time, if in our opinion you have failed to comply with any of these Terms.

Acceptable Use

You must not lease, distribute, license, sell or otherwise commercially exploit our Services or hold yourself out to any person as the supplier of the Services, nor must you sell or purport to supply the Services within your own service offering. You must not use the Services other than in accordance with these Terms.

Anti Money Laundering

In order to use our Service you must comply with all applicable laws and regulations, including those relating to anti-money laundering regulations. If you fail to do so we reserve the right to prevent you from using our Service to order Currency.

In order to enable Us to comply with our anti-money laundering and other legal obligations and our internal risk and fraud policies, We may ask to you for further information and identification (such as proof of your residential address/drivers licence details/ passport details and details relating to your source of funds). The name on the credit or debit card that you use to purchase Currency must match that on the identification document(s) that you submit to Us.

Ordering Currency

You may use the Service to place an order ("Order") for Currency for holiday or business travel. Orders are subject to a minimum value of £300 and a maximum value of £7,500.

The Currency Club can only accept a maximum of £2500 within a 14 day period when accepting payments via a payment card.

To place an Order, you should enter your Currency requirements into the currency converter on the Site and follow the instructions on the screen. You are responsible for entering correct information and we will not be responsible for any losses that you may suffer as a result of your error. You may correct errors up to the point that you submit your payment details in respect of your Order.

As part of the Order process you may request your Currency in specific denominations. We will use our reasonable endeavours to comply with your request but we do not guarantee that any requested currency denominations will be met.

You will be informed of delivery instructions prior to confirmation of the Order. If you do not accept the delivery instructions you need not continue with the Order.

After placing an Order, you will receive an e-mail from Us confirming that we have received your Order. You should print a copy of the Confirmation for your records.

Your Order constitutes an offer to purchase Currency subject to our acceptance. Our Confirmation constitutes acceptance of your Order.

All Orders are subject to the availability of the requested Currency and/or any limits or restrictions imposed by Us or by regulation or law from time to time.

You may not make changes to your orders once they are accepted unless expressly agreed by Us. If we agree to change your order, at our sole discretion, we may charge an administration fee of £10.

Orders may be placed at any time but will be processed during the hours of 9.30am to 6.00pm Monday to Friday excluding English bank holidays ("Working Hours"). Any Order placed outside Working Hours will be processed during Working Hours on the next working day.

Travellers Cheques

Where your Order includes traveller's cheques, these are subject to the terms of purchase, refund and replacement and other and conditions of the issuer (the "Issuer"). Please contact the Issuer for a copy of their terms and conditions. The terms and conditions of the Issuer are between you and the Issuer, and are in addition to these Terms and you should read them carefully. If your traveller's cheques are lost or stolen, the Issuer will only replace or refund their face value if you have complied with their terms and conditions.


Currency will be delivered only to your credit or debit card billing address. A signature will be required on delivery of your Currency and you must provide us with a valid landline home telephone number prior to delivery.

All foreign currency banknotes and travellers cheques will be sent by Royal Mail special delivery (unless we advise you otherwise).

Currency will be dispatched at the following times, unless otherwise requested at the time of your Order.

The dispatch timetable is as follows:

Order Confirmed Order Delivered by 1pm
Before 12noon Monday to Thursday Next working day*
After 12noon Monday to Wednesday Second working day*
After 12noon on Thursday and Before 12noon Friday Monday *
After 12noon Friday Tuesday
Anytime Saturday and Sunday Tuesday

This schedule is subject to variation during public holidays or national events that may affect our delivery schedule. During these periods, information about the revised delivery times may be posted on the Delivery Information page of the Website.

Orders are currently delivered free of charge unless stated otherwise. Clear details of any charge will be stated on the "My Payment Details" page.

Deliveries are the responsibility of and are insured by Royal Mail. To the extent permitted by law and subject to these Terms, we accept no responsibility for any failure by Royal Mail to deliver on time or at all. A copy of these terms are available from Royal Mail upon request at .

You accept responsibility for your Home Delivery Transaction when your Travel Money and/or travellers' cheques are signed for at your home delivery address or when the Travel Money and/or travellers' cheques are collected from a Royal Mail sorting office.

If you fail to accept delivery for any reason and wish the order to be resent you, will have to pay additional delivery charges as per our current fees. These charges apply to all orders which qualify for free home delivery

Royal Mail's duty is to deliver Items to the address written or printed on the Item . They are not responsible for delivering the Item to the person whose name is written or printed on the Item and therefore will accept signature from anyone in the property at the time of the delivery.

If Royal Mail are unable to deliver an Item because it does not fit through the letter box, no-one is available to receive or sign for it Royal Mail shall leave a card for the Intended Recipient explaining that a delivery was attempted and they shall take the Item back to their local sorting office and leave a card at the address. The card will give the Intended Recipient the option to have the Item re delivered to that address or inform them of where they can collect the Item from.

If the Intended Recipient does not collect it or have it delivered within 18 Days, or such shorter period Royal Mail shall return the Item to sender.

We may not be able to guarantee deliveries to certain areas within the United Kingdom

Your order should reach you the next business day before 1pm after receiving the "Order dispatched" email. Should your order not arrive promptly by 1pm, then you must inform us within one business day so that we can commence investigations for you. Please be advised that if we are not notified by you promptly, your claim may be reduced or rejected.

If you fail to accept delivery for any reason and wish the order to be resent you, will have to pay additional delivery charges as per our current fees. These charges apply to all orders which qualify for free home delivery

If Royal Mail fails to deliver your order, including the loss of your order, or if an order is fraudulently accepted by anyone unbeknown to you, then we will investigate the non delivery of your order. Some investigations can take up to 25 Business Days before knowing if we can offer you a refund or not. In some circumstances, we may be able to offer you a full refund of your money sooner but in all circumstances, the earliest a refund can be given will be after 10 Business Days of dispatch.

Please note that you should not accept any packages which appear to have been tampered with or damaged during transit by Royal Mail. We cannot be held liable for any financial loss should you sign for a package which has been damaged or tampered with.

You must notify us if there are any issues with your order within 24 hours after receipt. If you do not notify us within this timeframe we shall have no liability for any losses or expenses arising from an incorrect order.

In the event that you report a shortage in your order to us, initially you will be required to fill out a declaration before we commence your investigation. We may review our CCTV footage of the order being packaged. You agree that the CCTV footage showing the correct amount of currency being packed into your order shall be conclusive evidence that your order is correct and we shall have no liability to you for any purported shortage. In the event of an investigation where there is evidence of potential fraud, we reserve the right to pass on your details to the relevant authorities.

If we provide a replacement order and the original order is received by you and not returned to us by Royal Mail Special Delivery within 14 days, we reserve the right to charge you for the replacement order.

If you fail to accept delivery of or fail to collect your order from Royal Mail we will provide you with a refund to the Payment Card which you used to pay for your order less any Payment Card handling fee and delivery charges. A £10 administration fee will also apply. A refund will only be given once the order has been returned to us by the Royal Mail.

Please order your currency at least 3 to 4 working days before it is required, as we cannot offer you alternative options if it is delayed in transit for any reason.

Please note that we do not refund the delivery cost for delayed items

Price and Payment

When making payment, you warrant that you are acting on your own behalf, for a genuine reason and that the funds used to purchase are legally and beneficially yours, have not been obtained by illegal means nor in any way contrary

The price of any Currency will be as quoted on our Site from time to time, except in cases of obvious error.

The rate of exchange applicable to the Currency is displayed on the currency converter. Prices are updated regularly on our Site in accordance with updates in the wholesale market. Price updates will be subject to a delay according to our pricing policy in force at the time of your Order. The rate of exchange applicable to the Currency is subject to your acceptance, and if you do not accept the rate of exchange offered to you, you are not required to continue with your Order.

All prices exclude delivery costs and credit or debit card handling costs ( if applicable), which will be added to the total amount due prior to you confirming your Order.

Payment for all Currency must be by credit or debit card or bank transfer.

By Credit or Debit Card

We accept payment with the following credit or debit cards We accept payment by any of the following methods: MasterCard, MasterCard Debit; Maestro; Visa; Visa Debit; and Visa Electron. You undertake that all details provided are correct, the credit or debit card used belongs to you and that the billing address of your card matches the delivery address of your order. Please note that We do not accept business cards as payment.

No charge using a Debit or Credit card.

Your credit or debit card issuer may apply a cash advance charge over which we have no control. You are responsible for checking with your credit or debit card issuer as to whether a cash advance charge will be applied. Any cash advance charge will be shown separately on your credit or debit card statement.

By Bank Transfer (Internet Transfer, Telephone Banking, Faster Payments, BACS, CHAPS, Faster Payments)

You can select this method of payment during the order process on-line. Once you have placed your order with us, you will be given our client account details on your order acknowledgment. You must without delay, send payment of your order in full to the account number shown. Please enter your order number as the transaction reference. Failure to do so correctly may result in the Service being delayed or being cancelled. Please note that if we have not received the correct transfer reference, we accept no liability for any delay in processing your order.

You undertake that the bank account used to make payment is your personal account, belongs to you and that the name and registered address of the account used matches the delivery address of your order. Please note that We do not accept cash deposits into our account.

Failure to send a payment from an account other than your own may result in your order being cancelled or delayed. Payments which are received from an account other than your own or payments which have been made in the form of a cash deposit may be returned back to the sender minus our fee of £10.

If your payment is received by 12 noon, your currency and/or travellers cheques will be dispatched the same day. Please be advised that if your payment has not been received by 12 noon, we will dispatch your package on the next working day.

If your bank offers the Faster Payments service, we should expect to receive your payment within 2 hours however this cannot be guaranteed.

Should you opt to pay for your order by bank transfer we require the payment to be made promptly and for funds to clear in our Client Account by 4pm on the same day you placed your order. Should your funds not clear by that deadline the order will be cancelled and the funds shall be returned back to you less a £10 cancellation fee.

We do not charge any commission in respect of your Order for Currency

Collections service

Please wait until you have received the confirmation email stating that your order is "ready for collection" before visiting the bureau. Furthermore, we advise you go to collect your order at the stated time frame on your order confirmation email. We shall do our very best to ensure the package is ready for collection at the time stated however we cannot always guarantee due to unforeseen circumstances such as delayed delivery trucks.

When collecting orders in person, please bring your order confirmation email, the credit/debit card that was used to pay for your order and proof of ID (full passport or photographic drivers licence). Please be advised that your credit/debit card issuer may charge you a cash handling fee. Please note this is not a fee imposed by Us, this fee may apply when you purchase currency from any Bureau de Change and if you do not wish to incur this, you can opt to pay via bank transfer.

We advise that you double check the currency in your collection packet before leaving the bureau since we cannot guarantee any compensation thereafter if any discrepancies arise.

Cash for cash service

The bureau will also accept cash for cash over the counter transactions should you wish to pay for your travel money in cash. Simply pop into the bureau during our opening times stated below:

Monday to Friday 09.30-18.00

Bureau address: Sterling, 105 Edgware Road, Marble Arch, London, W2 2HX Buy Back Service

A buy back order can be placed from the buy back page which is situated under the "Buy Back" tab. When entering your order, the rates displayed are for indication only and not the rate applied to your order. We apply the rate on the day when we receive your currency. The rate will be captured directly from our system at anytime during the day. Once you have booked your order into the system, clear details are provided on how to send the currency to us.

In the case of travellers cheques, we are only able to buy back travellers cheques from you only. The travellers cheques must be signed in both designated areas as described by the issuer. Please refer to the terms and conditions of the travellers cheques issuer. In the event where the travellers cheques have not been signed correctly and we have to send the travellers cheques back to you, the cost of the return postage shall be incurred by you.

When placing your buy back order, you warrant that you are acting on your own behalf, for a genuine reason and that the currency in your possession has been purchased legally and has not been obtained by illegal means nor in any way contrary

Please note that when sending your currency back to us, you should use the Special Delivery insured service from Royal Mail. Always insure your currency up to the GBP (pound) equivalent value as advised by Royal Mail. Please be aware of any insurance restrictions on the number of packages sent to us and always refer to the terms and conditions supplied by Royal Mail.

Please be aware that when using the Buy Back Service, we cannot be held liable for any delays in delivering the Service or loss of your currency caused by Royal Mail.

When your package is received by Us, We will check the currency against the details you have entered on the order. If the amount is incorrect or forged notes are present, We will advise you accordingly. Please note that if forged notes are present, we will provide you with the serial numbers of those notes for your reference. We cannot return forged notes back to You and this will not form part of your Order.

Please note we do accept 500 EUR notes however an additional 3% fee will apply. We do not accept outmoded or damaged notes. Notes which are too low a value may also be rejected so please contact us before placing your buy back order if you are unsure. In the event that you send notes which are rejected, these will be returned to you the cost of the return postage shall be incurred by you.

You may be asked for more details in the form of documentary evidence regarding the currency that you are sending back to Us. We have the right to request further details from you in accordance with our Ant-Money Laundering Procedures. Failure to comply with these requests may result in delays of your payment being made or your currency being seized while further investigation takes place.

We will only pay the GBP equivalent back into Your personal account. All buy back order payments are made via BACS transfer which can take up to 3 working days to clear.

Consumer Rights

Where you contract with us as a consumer, the contract between us and any orders for the purchase of Currency that you may make through Service shall be subject to the Consumer Protection (Distance Selling) Regulations 2002 ("Distance Selling Regulations").

Notwithstanding the above, you acknowledge that for the purpose of Regulation 13(1)(b) of the Distance Selling Regulations, the price of foreign currency is dependent upon fluctuations in the financial market which are outside of our control, and as such you shall not have any right to cancel any contract for the purchase of Currency that you make through the Service, other than in exceptional circumstances where we agree that you may do so in our sole discretion.Where we allow you to cancel an Order, we may (in our discretion) offer to buy back your Currency at the applicable rate in force, although we reserve the right to apply a £10 administration fee.

Our Return and Refunds Policy

Our Service includes comprehensive checks to ensure that you receive the correct Currency. However, we do not guarantee that our Service will be error free and you acknowledge that from time to time errors may be made.

If you receive the wrong Currency, or insufficient Currency to make up the value of your whole Order, or a damaged or soiled package, or if you fail to receive your Currency on the expected delivery date, you must inform us immediately through the "Submit a Ticket" page of your account section of our Site or via email on You should not accept delivery of a soiled or damaged package. You must notify us if there are any issues with your order within 48 hours after receipt. If you do not notify us within this timeframe we shall have no liability for any losses or expenses arising from an incorrect order.

If due to an error by us, the value of the foreign currency delivered to you is greater than that ordered you agree to return the excess to us by Royal Mail Special Delivery within 14 days. We will reimburse you up to the cost of return by Royal Mail Special Delivery.

We will promptly investigate the issue and where our procedures show that we have made an error, we will determine any action to be taken and/or or remedy available to you on a case by case basis. Where you have received incorrect Currency as a result of our error, we will request that you return any such Currency to us, and you must do so by Royal Mail special delivery, the cost of which will be refunded to you. Upon receipt of the incorrect Currency, we will refund the value of the Currency. All refunds (including any refund of postage costs [subject to proof of your actual costs] OR [at Royal mail standard rate in force in respect of special delivery] will be made to the credit or debit card used to pay for the Currency.

Where our investigation shows that Royal Mail has made an error, we will determine any action to be taken and/or remedy available to you on a case by case basis and in line with the terms of the applicable Royal Mail insurance policy.

We are unable to issue a refund until Royal Mail have completed their investigation and provided us in writing the outcome of it.

If you receive the wrong Currency as a result of your own error or fault, we will not offer any refund or replacement.

In the event a refund is applied, please note that the standard refund can take between 3 to 5 working days.

In the event a refund is authorised, we will work on a best efforts basis to refund you as soon as possible, however please note that the standard refund can take between 3 to 5 working days.


You should re-check thoroughly before submitting your order online.

Once submitted, the order(s) cannot subsequently be cancelled at the request of the customer. Any cancellation of any orders will be at the sole discretion of The Currency Club and a minimum cancellation fee of £50 will be charged.

You acknowledge and agree that We may delay, refuse or cancel your Order at any time, for any reason, in our absolute discretion, particularly where we reasonably consider that you are engaged in fraudulent activity or are in breach of these Terms or where you may be unable to fulfil your obligations under these Terms

We may immediately cancel your Order if you are in breach of this Terms, and (where your breach is capable of being rectified) you do not rectify the breach within a reasonable time of our notifying you. You will be liable for any losses that we incur. We may also cancel your Order if we are required to do so on the instructions of any law enforcement agency or regulatory body, in which case we may retain all or any of your money if we are required to do so by law and deal with it as ordered by a court or other body of competent jurisdiction.

Should any Order be cancelled before your payment by credit or debit card is processed, your pre-authorised payment will be voided on the same day of cancellation. However, your card issuer may retain the funds for up to 10 working days, before releasing them back into your account. You acknowledge that this is outside of our control and that we shall have no liability to you for such actions of your card issuer.

Our Liability

We warrant to you that we will provide the Service with reasonable care and skill and in a timely manner.

Our liability for any losses that you may suffer as a result of us breaching these Terms, including deliberate breaches, is strictly limited to the total value of your Order to which the liability relates.

This does not include or limit in any way our liability for death or personal injury caused by our negligence; for fraud or fraudulent misrepresentation; or for any matter for which it would be illegal for us to exclude, or attempt to exclude, our liability.

We are not responsible for indirect or consequential losses which happen as a side effect of the main loss or damage and even if such losses result from a deliberate breach of these Terms by Us that would entitle you to terminate any contract between us, including but not limited to loss of income or revenue; loss of business; loss of profits or contracts; loss of anticipated savings; loss of data; or waste of management or office time however arising.

Our maximum liability to you in respect of each order you make using the Services shall be limited to a sum equal to the total value of your order and any charges we make for each order in respect of which you are making the claim.

We maintain the right to offset any liability we owe to you against any liability you owe to us whether that liability arises in connection with the Services or any other service we provide to you.

Communications between us

Applicable laws require that some of the information or communications we send to you should be in writing. When using our Site, you accept that communication with us will be mainly electronic. We will contact you by e-mail or provide you with information by posting notices on our website. For contractual purposes, you agree to this electronic means of communication and you acknowledge that all contracts, notices, information and other communications that we provide to you electronically comply with any legal requirement that such communications be in writing. This condition does not affect your statutory rights.

You may contact us at any time through the "Submit a Ticket" page of your personal account section of the Site, or by writing to us at the address given at the front of these Terms.

Events outside our control

We will not be liable or responsible for any failure to perform, or delay in performance of, any of our obligations under a Contract that is caused by events outside our reasonable control ("Force Majeure Event").

A Force Majeure Event includes any act, event, non-happening, omission or accident beyond our reasonable control and includes in particular (without limitation) the following: strikes, lock-outs or other industrial action; civil commotion, riot, invasion, terrorist attack or threat of terrorist attack, war (whether declared or not) or threat or preparation for war; fire, explosion, storm, flood, earthquake, subsidence, severe adverse weather, epidemic or other natural disaster; impossibility of the use of railways, shipping, aircraft, motor transport or other means of public or private transport; Impossibility of the use of public or private telecommunications networks; or the acts, decrees, legislation, regulations or restrictions of any government.

Our performance of our obligations in respect of any Order is deemed to be suspended for the period that the Force Majeure Event continues, and we will have an extension of time for performance for the duration of that period. We will use our reasonable endeavours to bring the Force Majeure Event to a close or to find a solution by which our obligations may be performed despite the Force Majeure Event.


If we fail, at any time to insist upon strict performance of any of your obligations under any Order or any of these Terms, or if we fail to exercise any of the rights or remedies to which we are entitled under the Order, this shall not constitute a waiver of such rights or remedies and shall not relieve you from compliance with such obligations.

A waiver by us of any default shall not constitute a waiver of any subsequent default.

No waiver by us of any of these Terms shall be effective unless it is expressly stated to be a waiver and is communicated to you in writing.


If any of these Terms are determined by any competent authority to be invalid, unlawful or unenforceable to any extent, such term, condition or provision will to that extent be severed from the remaining terms, conditions and provisions which will continue to be valid to the fullest extent permitted by law.

Entire Agreement

These Terms and any document expressly referred to in them represent the entire agreement between us in relation to your Order and supersede any prior agreement, understanding or arrangement between us, whether oral or in writing.

We each acknowledge that, in entering into a contract, pursuant to an Order, neither of us has relied on any representation, undertaking or promise given by the other or be implied from anything said or written in negotiations between us prior to the placing of such Order except as expressly stated in these Terms.

Neither of us shall have any remedy in respect of any untrue statement made by the other, whether orally or in writing, prior to the date of any Order (unless such untrue statement was made fraudulently) and the other party's only remedy shall be for breach of contract as provided in these Terms.

Our right to vary these Terms

We have the right to revise and amend these Terms from time to time. You will be subject to the policies and terms and conditions in force at the time that you order Currency from us.

Law and Jurisdiction

Any Order and/or the use of our Services and any dispute or claim arising out of or in connection with them or their subject matter (including non-contractual disputes or claims) will be governed by English law and shall be subject to the exclusive jurisdiction of the courts of England and Wales.

It is your sole responsibility to meet the currency import and export measures and conditions of the UK and any country you may be visiting (the Conditions). Please note that Sterling Consortium Ltd or its trading brands will not be responsible for any losses, damages or claims you may suffer as a result of your failure to comply with the Conditions.

Restricted currencies

We supply a range of currencies for which certain currencies may be restricted for non residents. We advise all travellers to check in advance of ordering their travel money whether any restrictions apply on how much local currency they can bring into the country they are visiting. Tour operators and embassies should be able to provide information about restricted currencies and any related thresholds that may apply.


Data Protection and your Data Rights

We operate in an industry that is regulated and authorised by HMRC and the FCA respectively and this is our primary reason for requesting your personal data. It is a legal requirement.

Upon initial registration and each time you use our service we collect information about you. That data can include, how you found our company. For example, did you come directly to our website or via an affiliate or search engine. Additional information includes your contact details which will include your full name, date of birth and current residential address, your billing information and how often you use our services and what your preferred method of payment is debit cards or bank transfer for instance.

We may also use your data to inform you of any new services that could be of interest to you.

We will keep all Personal Data confidential as required by law and in accordance with these terms and ensure that access to Personal Data shall only be provided to those employees, affiliates or services providers who need access and those agencies or bodies to whom we are obliged to share the data by law.

As an organisation, we have taken adequate technical and organisational security measures to safeguard Personal Data against unauthorised access, destruction, disclosure, transfer or improper use.

We have changed our policy in respect of direct marketing from an opt out to an opt in version.

If you are still happy to continue to receive marketing emails from us, You will be able to disable the service under Account Information section after login.

These forthcoming changes in data protection law require your consent before we can collect and/or use your data. With this in mind, please take a moment to read the below information.

How will we communicate with you?

Our main form of communication is via emails. These provide you with updates regarding the progress of your order. However we may also call you on the telephone numbers you have provided to us regarding updates on your order.

Our Privacy Policy

Keeping your information secure and private is of utmost importance to us. This policy explains what personal information we store, how we use it and how you can check and update any of your personal information. For the purposes of this Privacy Policy, "we" means Sterling Consortium Limited.

Why do we need to collect your personal information?

In order to offer our service we must adhere to the Money Laundering Regulations. This includes knowing our clients, understanding their foreign exchange requirements and their source of funding them and reasons for purchase.

Information is also collated so we may use the data to assist us in service improvements to help us develop our business and better match your requirements.

What type of Information do we hold?

Personal information

Who you are includes:

Your full name, residential address, date of birth,

Business information

How you opt to pay includes:

Whether you paid by debit card or bank transfer. Please note that we do not keep any card details on our database, we will keep bank account details against your order in the instance of a buy back.

Source of funds

Documentation that you may have sent us for Compliance reasons such as a bank statement as source of funds

Purpose of payment

Currencies requested

Destination of those funds both geographic and the name of the recipient

We may also require proof of the above in documentary form. Or conduct an electronic verification process.

How you use our foreign exchange services includes:

Details about how your order from us ie via the website or your mobile phone. This includes the date and time you use them and how long for. Your frequency of buying currency from us as well as selling any leftover currency to us. Records of your Order History which includes details of previous purchases and sells are also stored for Compliance reasons within your account.

What you do with your account(s):

This includes things such as whether you buy currency from us and also sell any unused currency back. How often you log in to your account to use our services. Any updates to your Account Information. Whether you benefit from the rate reminder, Click and Collect or holiday money reminder services.

Where do we get your information?

When you register to become a member of our services the data is collected however we also update your account with notes when you contact us and whenever you place your order online. Additionally, whenever you update your account information online.

How we use your information

We use your information primarily to fulfil your currency requirement and also to:

Manage your account and keep your information up to date

To make out outward payments

Get in touch with you via email or telephone calls

Keep things secure and prevent crime, fraud and money laundering

Manage our platform

Comply with our legal requirements

Address any issues or complaints that may arise

Recover any money you might owe us

Or to:

Inform you of any new services that we have rolled out that may be of interest

How we share your information

There are instances where we have to share your information with other companies that we work with.

Our electronic identification providers, including Accuity and Experian

NB: Experian is used solely for the purposes of complying with our legal obligations it is not a credit reference check This may also mean sharing your information with: ASI our partner for processing payments and Royal Mail our partner for delivery services

Additionally, third parties can include those whose products and services we market to you (only where you have given permission to receive such messages).

We may also share your information with appropriate regulatory or legal authorities where we are obliged to do so by law.

Storing your Personal Information

Your information will only be retained by us on termination of our relationship with your for the minimum period required by law.

Access to your data by us

Data in transit is protected with strong cryptography and security protocols used to safeguard sensitive client data during transmission over public/private network with encrypted connections like (HTTPS,SSL, TLS).

Data at rest is protected by encrypting sensitive files prior to storing them using strong encryption techniques.

Our employees are limited in their access to data so they only see what is necessary.

Physical Access:

Data storage server networks are secured with firewalls, anti spyware and virus-detection programs. Applications, database file systems are secured from unauthorized access through multi levels of authorization, authentication and encrypted passwords. Our anti-virus programs capable of detecting, removing, and protecting against all known types of malicious software (for example, viruses, Trojans, worms, spyware, adware, and rootkits).

Devices are regularly inspected for tampering and detecting fraudulent devices.

Data Security:

We conduct regular back ups of data and all data is stored in the secured location after necessary encryption is applied.

Database backups are taken throughout the day at regular interval and are stored at the Datacentre .

Customer Files are encrypted and backed up throughout the day and stored at our Datacentre.

Only authorized employees have access to backup of client data

In the event of a request by you to erase your customer data, where permitted by law, we delete the data from the production database and then conduct a secondary deletion from the backup data storage.

Your rights

You have a number of legal rights in relation to the information that we hold about you, including:a right of access to a copy of the information we hold on your account.You can do this by sending us an email or calling during office hours for any other details requests. a right to close your account. You can do this by logging in to your Account and clicking on the Deactivate button a right to prevent receiving direct marketing from us; you can do this by logging in your Account Information a right to get in touch with us if you notice that any information on your account is inaccurate or requires updating In the unlikely event of dissatisfaction with our data protection policies or to report a breach to us. Please contact who is our Data Controller.

You also have a right to claim compensation for damages caused by a breach of the Act by filing a complaint with the Information Commissioner's Office at

How to check and update your information

To opt out of receiving marketing information, to simply update your details or to deactivate your account simply visit our website and login to your Account Information

You can change your personal account details at any time there, please be aware the original details are still recorded on our system to comply with our legal obligations as are any amendments.

About Cookies: We use cookies as do our affiliates to track how you found us and when you next visit the site you are recognisable

Communicating over the internet:

Please be aware that when you are sending us documentation to satisfy our Compliance requests , the information you send over the internet is only safe if they've been encrypted. Therefore we cannot be responsible if your email is intercepted by any third party without your permission.

Pages on other companies' sites:

If you have found our company's website via an affiliate such as price comparison websites please note that we do not have control over their websites and request you read any terms that may have in place before entering any personal information on their site.

Companies outside the European Economic Area (EEA):

We might give your information to other companies based outside the EEA. For example, our development team are based in India

In any event where your personal information has to be shared we will make sure that any transfer of your data is compliant with data protection law.

Get in touch

If you want to know more about how your information is used, stored or simply to raise any queries with us in relation to your information, visit the Contact Us tab and either send us an email or call us.

Terms of Use of Service


This is an agreement between Sterling Consortium Limited of 50 Harrowby Street, London W1H 5EE (company registration number 05850613) ("We/Us/Our") and the client ("You/Your") named in the Application Form


The following definitions and rules of interpretation apply in this agreement.

Application Form The application form which You complete and submit to Us for the purpose of using Our services as described in this Agreement.
Business Day Any day when the clearing banks in the City of London are open for business.
Contract Confirmation The written document We provide to You confirming the terms of an FX Contract or Payment Service pursuant to this Agreement.
Cancellation Event A situation where We decide, in Our absolute discretion, to cancel an FX Contract under the terms of this Contract.
Client Account Your account with Us which is maintained for the purpose of recording credits and debits to allow You to enter into FX Contracts in accordance with clause 17.2.
Close Out Cancellation or termination an FX Contract.
Commencement Date Has the meaning given at clause 4.5.
Compliance Obligations Our obligations to comply with all laws and international guidance, policies or procedures including those requiring Us to verify the identity of Our customers.
Conditions These terms and conditions as amended from time to time in accordance with clause 18.6.
Contract The contract between Us and You for the supply of the Services in accordance with these Conditions and Our Account Opening Terms.
Deposit A deposit in accordance with clause 8.1.
FCA The Financial Conduct Authority.
Force Majeure Event Has the meaning given to it at clause 16.1.
Forward Contract A transaction where the Value Date is later than 2 Business Days after the date of the Contract Confirmation.
FX Contract Each and every foreign exchange contract entered into between You and Us and including every Forward Contract or Spot Contract.
Instruction Any instruction given by You to Us and relating to an FX Contract or Payment Service.
Margin The deposit payment You pay Us against Forward Contracts.
Margin Call Has the meaning given at clause 8.3.
Order A confirmed order for an FX Contract or Payment.
Payment A payment executed by Us as part of Our Payment Services.
Payment Services The execution by Us Payments on Your behalf where these are within the scope of the PS Regulations.
PS Regulations The Payment Services Regulations 2017.
Purchase Currency The currency bought by You and sold by Us.
Relevant Funds Has the meaning given at clause 17.1.
Sale Currency The currency You sell to Us in consideration of the Services
Services The services provided by Us to You in accordance with these Conditions and including FX Contracts and Payment Services.
Spot Contract A transaction where the Value Date is less than 2 Business Days after the date of the Contract Confirmation.
Spread The difference between the exchange rate obtained by Us from Our banking counterparty and the exchange rate offered to You.
Termination Date The date at which this Contract is deemed to come to an end.
Value Date The date by which a payment for an FX Contract or Payment Service must be fully settled as specified in the Contract Confirmation.
Writing Includes letter and facsimile but not e-mail.
2004 Regulations The Financial Services (Distance Marketing) Regulations 2004.


2.1 We are registered with the FCA under the PS Regulations with registration number 504439.

2.2 We contract with You as principal and on an execution only basis.

2.3 We do not provide advice to You on the merits of the Services and You must not treat any information or comments by Us as advice.


3.1 You wish to enter into a contract with Us for the Services.

3.2 You agree with Us that the Services shall be provided in accordance with these Conditions.

3.3 You agree to rely on Your own judgment (or the judgment of any advisor appointed by You) when deciding whether to complete an Application Form.


4.1 It is important that You read and understand these Conditions which will apply to all dealings between Us and You.

4.2 You should only complete the Application Form and send Us Instructions if You agree to be bound by these Conditions.

4.3 The Application Form constitutes an offer by You to receive the Services in accordance with these Conditions.

4.4 The Order shall only be deemed to be accepted when the We issue written acceptance of the Application Form in the form of a Contract Confirmation at which point and on which date the Contract shall come into existence (Commencement Date).

4.5 The Contract shall continue until the Termination Date in accordance with these Conditions.

4.6 If You are a corporate client, Our Services are provided as a commercial tool to support the business activity of the registered account holder. You agree that You will not Use any corporate Client Account for purposes unconnected with Your business.


5.1 To open an account with Us You must complete and send us an Application Form. Our acceptance of You

5.2 Our obligations under this Contract are conditional on Our acceptance of You as a client which is at Our sole discretion. We reserve the right to decline to open a Client Account for You without specifying a reason.

5.3 In order to comply with Our Compliance Obligations We may from time to time request further information or documentation from You. You agree to provide this information and We will not be liable for any loss, direct or indirect, caused as a result of any failure to respond to Our requests.


6.1 You may contact Us to give Instructions for an FX Contract or Payment either by telephone or through Our Website. The Instructions will be either for a Spot Contract or a Forward Contract.

6.2 When You give Us such Instructions You must provide all relevant information to allow Us to execute the proposed FX Contract or Payment on Your behalf.

6.3 You must tell Us the purpose of Your proposed Order. We do not provide Our Services to customers seeking to profit from fluctuations in foreign exchange rates. You must tell Us if that is Your intention in which case We may decline to deal with You.

6.4 If We decide to accept Your Instructions We will treat them as a firm Order and will send You a Contract Confirmation which specifies the amount of the Sale Currency required, the amount of the Purchase Currency which will be purchased for You, the exchange rate offered, applicable fees, any transmission costs, the terms for a Deposit (if applicable) and a date by which the Sale Currency must have arrived in cleared funds in the bank account specified by Us.

6.5 Once We have sent You Our Contract Confirmation You will be legally bound to perform the FX Contract or Payment in accordance with its terms. In particular, You must send Us sufficient funds for onward payment, taking into account any funds owed to Us. Failure to send sufficient funds in the Sale Currency may result in Us not executing Your FX Contract or Payment.

6.6 Where We have agreed a future payment date You may cancel the Payment before the end of the Business Day preceding the agreed payment date.

6.7 You do not have the right under the 2004 Regulations to cancel an Order once made. We may, at Our discretion, allow You to cancel or alter an Order before We have acted on it but this does not affect Your obligations under any existing Contract Confirmation (see further clause 11 below).

6.8 You will need to provide Us, on or before the Value Date of the Order, the beneficiary bank details and it is Your responsibility to ensure the beneficiary bank details are accurate along with complete payment Instructions for the beneficiary of the payment. We will not be liable to You if the Payment is instructed late as a result of providing incomplete beneficiary bank details or if Your funds are received by the wrong beneficiary as a result of You providing incorrect beneficiary bank details, however We will Use reasonable efforts to assist You in the recovery of Your funds and We reserve the right to charge You a fee for Our reasonable costs in doing so.

6.9 If You fail to provide payment Instructions on or before the Value Date We reserve the right to Close Out or reverse the currency conversion and return the funds to the bank or other account from which relevant currency was received. You will be liable for any loss incurred and also liable in all cases for all costs incurred in connection with the return of the funds and in addition We reserve the right to charge You a fee to cover Our reasonable costs for doing this.


7.1 We will send the full amount of any Payment to the payee in accordance with Your Payment Instruction. We cannot guarantee that the payee's service provider or another intermediary will not deduct a charge for receiving the Payment. It is Your responsibility to confirm the details of any such charges prior to placing an Order.

7.2 If We receive a payment Instruction by 5.00 p.m. on a Business Day, Your payment Instruction will be deemed to have been received by Us on that Business Day. If Your payment Instruction is received after 5.00 pm or on a day that is not a Business Day, Your payment Instruction will be deemed to have been received on the next Business Day. Your payment Instruction will be acted on the earliest possible payment date available once the Order has been performed unless You have requested a specific future date.

7.3 We are not responsible for any delays due to the need for Us to carry out verification checks, such as requests for further information, or for the need for the payee's bank to carry out their own checks and to process the Payment.


8.1 We may, require a deposit when You enter into an FX Contract (Deposit) the amount of the Deposit will be set out in the Contract Confirmation. The value of the Deposit is determined at Our sole discretion but will Usually be between 2% and 15% of the Sale Currency. Payment of the Deposit must be made to a bank account nominated by Us.

8.2 Any Deposit must be paid within one Business Day of the Contract Confirmation.

8.3 We may, at any time up to the Value Date, require You to top up Your Deposit, and You agree to settle any such request(Margin Call). For example, to increase the Margin level where We determine this is required to cover any risks.

8.4 Margin Calls must be paid within one Business Day of being called. Failure to pay in full and on time may be treated as a cancellation of Your Order in accordance with clause 15.2.

8.5 Outstanding balances of Sale Currency must be paid into the nominated bank account no later than 5 p.m. on the Business Day preceding the Maturity Date as stated in the Contract Confirmation.

8.6 Payments by You of a Deposit, Margin Call or balance of Sale Currency are treated as part payment of Your Order and will not be returned to You.


9.1 Where full payment to be made for an Order without a Deposit You must pay to Us the Sale Currency in full into the bank account nominated by Us on or before midday (UK local time) on the date specified in the Contract Confirmation.

9.2 Any payment to Us in a currency other than the agreed Sale Currency will be converted at a conversion rate agreed with You at that time. Please note that other costs, including taxes, which are not paid via Us or Imposed by Us, may arise.

9.3 You may not deposit physical cash, cheques or banker's drafts, into any of Our bank accounts and in any such case We will not release Your funds or make any onward payment until We are reasonably satisfied that We have been provided with documentation which identifies its source. You may make payments of up to £7,500 on any single occasion using a credit card in Your own name.

9.4 Failure to pay in full or on time may be considered as a failure by You to perform Your contractual obligations and may be treated as a cancellation of Your Order (see clause 15).

9.5 We will not in any way be liable to You for any loss arising as a result of Your failure to comply with the requirements set out in this Clause.

9.6 Whenever You pay funds to Us You should ensure that You are Using the most up to date bank details provided to You by Us.


10.1 On Our acceptance of Your Order We will send You a Contract Confirmation which summarises the terms of the legally binding and concluded contract between Us.

10.2 If You believe there is an error on the Contract Confirmation You must inform Us immediately. In the event that the Contract Confirmation contains an error We will issue a replacement. You will remain bound to perform the contract in accordance with its agreed terms.


11.1 If You inform Us that You wish to cancel an order, We may agree to cancel it at Our sole discretion. We have sole discretion to treat Your death, illness, any threat of legal action against You as a Cancellation Event.

11.2 In circumstances where We agree to cancel an Order at Your request We will Close Out the existing FX Contract or Payment and may add a Spread which will be in line with the Spread added to Your FX Contract when it was concluded. If any gain is realised in excess of the Spread added to the Close Out transaction, We shall pay this to You less any amounts owed to Us, on any Order.

11.3 If You fail to perform any of Your obligations under this Contract We may Close Out any open Order without further notice to You and off-set any funds held for You (whether received from You or a third party on Your behalf) against any amounts due to Us to cover any actual losses We have incurred as a result. In Closing Out Order We may add a Spread which will be in line with the Spread added to Your Order when it was concluded.

11.4 You acknowledge that, in the event We are required to Close Out an Order We may need to enter another currency transaction to Close Out Our matching position We have with Our banking counterparty and We will charge You Our reasonable costs incurred for the matching transaction and for any loss arising on these transactions.

11.5 We reserve the right to charge a cancellation fee to cover Our costs of Closing Out the position together with a compensating sum calculated by Us as being equal to the loss suffered by Us in connection with the cancellation together with interest at a rate of interest of Bank of England base rate plus 2% on such compensating sum for each day between the Cancellation Event and payment to Us.

11.6 If You notify Us that You want to alter any of the terms in Our Contract Confirmation We may at Our sole discretion, agree to such amendments that are reasonable given the market conditions. We reserve the right to charge an administration fee of [£50] representing administration costs involved.

11.7 In the event that We Close Out Your Order for any reasons outlined in this Contract and it transpires that the matching transaction was aggregated then the loss or gain resulting from the Close Out of Our matching transaction will be determined by applying the closing rate of the Bank of England of that relevant currency plus 2% on the day You concluded the Order with Us.


12.1 In the event that You fail to perform Your obligations under a Contract Confirmation or any other obligations under this Contract, We are entitled to treat this as a Cancellation Event by You and will be entitled to the remedies set out in this Contract. In addition We reserve the right to charge a cancellation fee to cover Our costs of Closing Out the position together with a compensating sum calculated by Us as being equal to the loss suffered by Us in connection with the cancellation together with interest at a rate of interest of Bank of England base rate plus 2% on such compensating sum for each day between the Cancellation Event and payment to Us.

12.2 If You have failed to pay Us any amount which You owe Us We will deduct any outstanding amounts and/or charges from any balance held for You before providing the remaining money to You. This includes any sums held in Your sole name or if You are two or more persons any sums held jointly.


13.1 You Represent to Us on the Commencement Date and on every occasion when You give Instructions or Place an Order:

13.1.1 If You are a private individual, that You are over 18 years old

13.1.2 That You are acting as a principal

13.1.3 That You have full capacity and authority to lawfully enter into and perform this Contract in accordance with these Conditions

13.1.4 That Your agreement of these Conditions and performance of Your obligations under this Contract does not breach any law applicable to You

13.1.5 That all sums paid by You to Us belong to You and are not subject to any rights of third parties

13.1.6 That all information supplied by You to Us is up to date and accurate

13.1.7 That neither the information provided by You nor Your conduct in relation to any proposed Order was or is misleading, by omission or otherwise.

13.2 You undertake to notify Us immediately if any information provided by You ceases to be up to date and accurate.


14.1 Where it is established that a Payment was not authorised by You and/or that a Payment was not correctly executed by Us, We shall refund to You the full amount debited erroneously as soon as practicable.

14.2 Nothing in this Contract excludes Our liability for fraudulent misrepresentation, death or personal injury caused by Our negligence or the negligence of Our employees or agents or any other liability which We have to You under the FCA rules or which cannot be excluded by law.

14.3 In any other case We are not responsible for any loss which may be caused by Our execution of Your Payment Instructions.

14.4 In the event that you enter into an FX Contract with us and it transpires that currency involved in the transaction (Purchase Currency or Sale Currency) is withdrawn or redenominated into another currency before the Value Date you will remain bound to perform the FX Contract.


15.1 Without affecting any other right or remedy available to it, either party may terminate the Contract with immediate effect by giving written notice to the other party in any of the following circumstances:

15.1.1 The other party commits a material breach of its obligations under the Contract and (if such breach is remediable) fails to remedy that breach within 10 Business days after receipt of notice in Writing to do so

15.1.2 The other party takes any step or action in connection with its entering administration, provisional liquidation or any composition or arrangement with its creditors (other than in relation to a solvent restructuring), being wound up (whether voluntarily or by order of the court, unless for the purpose of a solvent restructuring), having a receiver appointed to any of its assets or ceasing to carry on business or, if the step or action is taken in another jurisdiction, in connection with any analogous procedure in the relevant jurisdiction

15.1.3 The other party suspends, or threatens to suspend, or ceases or threatens to cease to carry on all or a substantial part of its business or

15.1.4 The other party's financial position deteriorates to such an extent that in the terminating party's opinion the other party's capability to adequately fulfil its obligations under the Contract has been placed in jeopardy.

15.2 Termination of the Contract shall not affect any rights, remedies, obligations and liabilities of the parties that have accrued up to the date of termination, including the right to claim damages in respect of any breach of the Contract which existed at or before the date of termination.


16.1 Neither party shall be in breach of the Contract nor liable for delay in performing or failure to perform, any of its obligations under the Contract if such delay or failure result from events, circumstances or causes beyond its reasonable control (a Force Majeure Event).


17.1 Funds received by Us in accordance with an Order (Relevant Funds) will be subject to the requirements as set out in the Regulations.

17.2 Relevant Funds are held in segregated bank accounts which are independent of Our business bank accounts. In the event that We continue to hold Relevant Funds at the end of the Business Day following the day that such funds Were received for whatsoever reason including but not limited to Us not being in receipt of a complete Order, the Relevant Funds shall be placed in a safeguarded bank account (Client Account).

17.3 The purpose for holding funds in a Client Account ensures that in the event of Our insolvency, or if a financial claim is made against Us, no creditor or claimant should be able to claim funds held in these accounts. This is because no other person or institution may have any rights or interest over the funds held in these accounts.

17.4 Relevant Funds are not covered under the Financial Services Compensation Scheme. When You transfer funds to Us such as to pay a Deposit and/or Margin Call(s) full ownership and title to these funds transfers to Us absolutely and such funds are considered as Our money. They will not be Relevant Funds and so they will be placed into Our business bank account and will not be protected under the segregation rules of the PS Regulations.

17.5 We will not pay interest on funds paid to Us including balances held in Client Accounts and We may retain, for Our own benefit, any interest which accrues from funds held in any accounts.


18.1 If any provision or part-provision of the Contract is or becomes invalid, illegal or unenforceable, it shall be deemed modified to the minimum extent necessary to make it valid, legal and enforceable. If such modification is not possible, the relevant provision or part-provision shall be deemed deleted. Any modification to or deletion of a provision or part-provision under this clause shall not affect the validity and enforceability of the rest of the Contract.

18.2 A waiver of any right or remedy under the Contract or by law is only effective if given in Writing and shall not be deemed a waiver of any subsequent right or remedy. A failure or delay by a party to exercise any right or remedy provided under the Contract or by law shall not constitute a waiver of that or any other right or remedy, nor shall it prevent or restrict any further exercise of that or any other right or remedy. No single or partial exercise of any right or remedy provided under the Contract or by law shall prevent or restrict the further exercise of that or any other right or remedy.

18.3 The Contract and the Account Opening Terms constitute the entire agreement between the parties and supersedes and extinguishes all previous agreements, promises, assurances, warranties, representations and understandings between them, whether written or oral, relating to its subject matter.

18.4 Each party acknowledges that in entering into the Contract it does not rely on, and shall have no remedies in respect of any statement, representation, assurance or warranty (whether made innocently or negligently) that is not set out in the Contract. Each party agrees that it shall have no claim for innocent or negligent misrepresentation based on any statement in the Contract.

18.5 Nothing in this clause shall limit or exclude any liability for fraud.

18.6 Except as set out in these Conditions, no variation of the Contract shall be effective unless it is agreed in Writing and signed by the parties (or their authorised representatives).

18.7 The Contract and any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with it or its subject matter or formation shall be governed by and construed in accordance with the law of England and Wales.

18.8 Each party irrevocably agrees that the courts of England and Wales shall have jurisdiction to settle any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with the Contract or its subject matter or formation.


19.1 Details of Our customer complaints policy which explains how You may complain about Us or our Services may be found at


20.1 Details of Our data protection policy which explains how We process personal data, may be found at