FCA warns on currency converter tools

yeepay-payments-internet — FCA: "Tools which convert currency at the interbank rate may be used in such a way as to give consumers the misleading impression that the rates shown are available to them"

Tweet
Facebook
LinkedIn
Save this article
Send to
Print this page

The Financial Conduct Authority (FCA) has warned that several payment institutions and e-money institutions have failed to comply with a set of guidelines issued by the UK regulator and that they continue to offer interbank rates in a potentially misleading way.

In a statement released on July 19, the FCA said it is actively considering further investigation and action in this area. In doing so, “we will have particular regard to any firms which do not take appropriate steps in light of today’s

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to print this content. Please contact [email protected] to find out more.

You are currently unable to copy this content. Please contact [email protected] to find out more.

You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email [email protected]

You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email [email protected]