Security of funds

The security of clients' funds is a top priority for Osolto.

As part of the services offered, Osolto does not hold clients' funds at any time. All payment operations, currency exchange, and account management are carried out exclusively by top-tier partner institutions, recognised internationally and duly licensed and supervised by the competent financial authorities within the European Union and, where applicable, in other jurisdictions.

In accordance with applicable regulatory requirements, clients' funds are:

·       either protected by our FCA licensed partners at a credit institution;

·       or covered by equivalent protection mechanisms, including insurance policies, set up by the partner payment or electronic money institutions.

These arrangements aim to ensure the protection of clients' funds in the event of insolvency of the concerned partner institution, in the conditions provided by the applicable regulations.

The Currency Cloud Limited / CurrencyCloud B.V.

Osolto works with Currencycloud to provide payment and electronic money services.

The regulated services are provided by Currencycloud, an institution licensed and supervised in accordance with applicable regulations.

Osolto does not hold clients' funds and is not a payment institution or electronic money institution.

When funds are credited to your account, in accordance with regulatory requirements, the electronic money institutions we work with protect your funds. This means that the funds in your payment account are held with reputable banks or covered by an insurance policy and are protected in the event of insolvency of our partners or Osolto. Protection ends when the funds have been transferred to your beneficiary's account. To get details of the amounts protected with each of our partners at any given time, please contact us.

For further information regarding the regulated services, please refer to the terms and conditions of The Currency Cloud Limited available here.

1. For clients in the United Kingdom (UK)

Payment and electronic money services are provided by The Currency Cloud Limited. Company registered in England under number 06323311. Registered office: 1 Sheldon Square, London, W2 6TT, United Kingdom. The Currency Cloud Limited is authorised by the Financial Conduct Authority (FCA) under the Electronic Money Regulations 2011 for the issuance of electronic money (FRN: 900199).

2. For clients in the European Union (EU / EEA)

For clients based in the European Economic Area, the issuance of electronic money and the provision of associated payment services for Osolto are ensured by CurrencyCloud B.V. CurrencyCloud B.V. is registered with the Dutch Chamber of Commerce under number 72186178. Registered office: Mr. Treublaan 7, 1097 DP, Amsterdam, Netherlands. CurrencyCloud B.V. is licensed and regulated by De Nederlandsche Bank (Dutch Central Bank) as an Electronic Money Institution (relationship number: R142701).

3. For clients in the United States (USA)

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 [Insert link]. VGSI is licensed as a money transmitter by the New York State Department of Financial Services. Mailing address: 900 Metro Center Blvd, Mailstop 1Z, Foster City, CA 94404. VGSI is also registered as a money services business (“MSB”) with FinCEN and as a foreign MSB with CANAFE (FINTRAC). For live customer assistance, contact VGSI at (888) 733-0041.

Ebury

Osolto acts as an intermediary and partner of Ebury in providing payment, currency exchange, and foreign exchange solutions.

The regulated services are provided directly by Ebury, a licensed financial institution supervised by the competent authorities in accordance with the applicable regulations in each relevant jurisdiction.

Osolto is not a payment institution, electronic money institution, nor a banking institution. Osolto does not hold clients' funds at any time.

For further information regarding the regulated services, the General Terms or complaint procedures, we invite you to refer to Ebury's official documentation relevant to your jurisdiction.