As you may be aware, levels of international banking, compliance are increasing on a daily basis, so it is essential that our clients provide as much information about their business transactions as possible. The information on this page will give you an insight into how we comply with current banking compliance and international money laundering law requirements and what we will request from new client applications:
Paymaster & Escrow Service Compliance Checks
- initial contact by telephone. If you decide to contact us by telephone you will be put through to a senior member of our management team who will discuss your current requirements in depth. After this conversation if you wish to proceed, we will ask you to complete our online Pre--Approval forms which are available on the homepage of our website in a drop down box marked Pre-approval Service. Simply complete the forms a copy of which we will automatically receive. Once we have received your completed forms, we will send you a confirmation email and request a copy of your passport.
- At this stage, we will request a due diligence fee of, £500.00 GBP to cover the cost of our due diligence and anti-money laundering work. This amount is not refundable.
- Please respect the fact that the due diligence process not only protects our company from fraudulent or criminal applications, but also protects our clients. As part of our checking process we will often ask for full details and passport copies of parties our clients are doing business with. Genuine applicants will appreciate this level of protection from fraud and criminal or money laundering activities.
- Once our initial checks have been completed, we will draw up the Paymaster agreement. The Paymaster agreement will be requesting information such as bank account details for our client to receive payments, and any other parties where we are making multiple payments as paymasters.
Contact us by email or complete the pre-approval here on our website.
Paymaster Fees: Our fees vary from 2% down 0.5% depending on the value of the transaction and number of parties to be paid.
Escrow Fees: our escrow fees are between 1%-2% depending on the value of the transaction and the compliance requirements.
Please contact us for competitive quotation.
If you wish to proceed further, please complete our exclusive Pre-Approval forms which can be found here.