Sending money abroad is a daily activity for many expatriates living and working away from home. The need of transferring money to friends and family or for other business purposes is increasing rapidly. Remittances contribute significantly to the economy of a state, as stated by World Bank.
People in the United Kingdom trust ACE money transfer to send money to Bangladesh and other countries. Let us discuss the authentication of a service provider.
Authentication of the Service Provider
It’s recommended to check for the authentication of a service provider before sending money transfers. The digital payment methods are regulated in most sectors, but still, loopholes exist. There are reported incidents of fraudulent activities in terms of money transfer.
For this, all you need to do is to check if the service provider is authorized by the Financial Compliance Authority & Her Majesty Revenue Corporation. If the service provider is licensed, trust it to do money transfer to Bangladesh or any other country you want to send money from the United Kingdom.
Transfer Money to Bangladesh
To transfer money to Bangladesh from the UK, ACE Money Transfer provides multiple payout options. Furthermore, ACE offer the best exchange rates to send money to Bangladesh.
If you are looking forward to sending money to Bangladesh, you should always go for a reliable service provider. It’s time to look beyond traditional banks to digital money specialists. You will be surprised to experience the most economical and cost-effective fees for the transactions.
This question might arise in your mind if you are new and want to send money to Bangladesh. Is ACE Money Transfer an Authentic Service Provider? No doubt, ACE Money transfer is a trusted service provider. But one might search for ways to find its authenticity? Here are few things that you must know about a money transfer service provider.
HMRC & FCA Compliance
All remittance service providers in the UK have to comply with the Financial Compliance Authority or FCA. They also need to comply with the HMRC (Her Majesty Revenue Corporation). FCA provides a verification number to the registered companies. Both the HMRC and FCA are responsible for regulating the remittance industry.
Additionally, service providers registered by Financial Compliance Authority provide an honest, fair, and practical user experience. The FCA strictly advises on using the companies enlisted with the FCA.
ACE Money Transfer & FCA
ACE Money Transfer is an authorized electronic money institution regulated by the Financial Conduct Authority (FCA). ACE keeps your money safe by depositing it in a low-risk financial institution. In this way, when you wish to do online money transfer to Bangladesh, you can enjoy the perks of secure transactions.
Always ensure the availability of the firm on the official site to confirm its authenticity. FCA lists all the firms and current or previously approved individuals involved with regulated activities.
Did something go wrong- No Worries!
Some firms are not authorized by FCA and operate the transactions ineffectively. For instance, if you find any difficulty while sending money, the best way is to launch a complaint. Do not hesitate to explain the issue, and hopefully, you can expect a feasible solution shortly.
You can also contact the consumer helpline on 0800-1116768 to confirm companies not visible on the list. Beware of fraudsters pretending to be authorized, as they could be ‘clone firms’. If you’re cold-called by a financial services firm, always ring them back on the number given on the FS Register.
ACE Money Transfer is the best solution for sending money transfers to Bangladesh and all around the globe. Get started with ACE Money Transfer and experience reliable, secure transfer of funds. Create a free account on the official portal of ACE Money Transfer and begin sending money transfers instantly.