UK Frontier Ltd was incorporated as a private limited company on 30 May 2018 under the company registration number 11389756. UK Frontier Ltd is registered with the HM Revenue & Customs, UK to run money service business since 29 August 2018 and registered with the Financial Conduct Authority, UK (“FCA”) as a Small Payment Institution (FCA registration number: 812520) since 27 June 2018.
| Remittance Amount | Service Charge Rates (As of August 2024) |
| <£100,000 | 1.5% |
| >£100,001 - £500,000 | 1% |
| >£500,001 | 0.8% |
Counterparty Risk
Counterparty risk arises when a participant in the payment process, such as a bank or payment processor, fails to fulfill its payment obligations. We only partner with firms authorized or registered with the FCA. For overseas operations, our partners must obtain equivalent authorization from the relevant authorities in their jurisdictions. In addition, our firm has contingency plan in place to ensure uninterrupted payment processing.
Currency Rate Risk
Fluctuations in exchange rates between the client's domestic currency and the foreign currency involved in international payments can impact the final cost or value of the payment. You are advised to stay informed about currency market trends and plan transactions to capitalize on favorable exchange rates and mitigate potential losses.
In July 2023, the Financial Conduct Authority (FCA) launched the 'Consumer Duty,' a new legislation designed to enhance consumer protection standards across financial services in the United Kingdom. This Duty mandates that companies prioritize customer needs and work towards delivering positive customer outcomes.
As a small payment institution regulated by the FCA in the UK, we are dedicated to:
- Actively pursuing favorable outcomes for all customers
- Upholding high standards in product and service quality
- Ensuring pricing transparency
- Promoting consumer understanding
- Providing robust support
Customers can make a complaint in writing by letter, email or by phone. All complaints are recorded, and we will provide a summary of all complaints to the Financial Services Authority.
Address:Suite 8 2nd Floor, St James House, Pendleton Way, Salford Great Manchester, M6 5FW, UNITED KINGDOM
Phone:+447843426336
Email:info@nexus-pay.co
Upon receipt of a complaint, we shall respond promptly to the client acknowledging receipt of the complaint. If, for whatever reason, we are unable to conclude the investigation and provide a Final Response to the complainant within 15 business days of the complaint first being received, then we will issue a Holding Response. The purpose of this Holding Response is to inform the complainant
• why we cannot provide a Final Response
• what we are doing to progress the complaint; and
• when we will provide an indication of what is happening with it
As soon as we have completed investigation, we will write to the complainant and offer a summary outcome, including any remedial action as necessary. Where a holding response has been sent, and we have not been able to conclude investigations within 15 business days of the complaint being first received, we will send our final response within 35 business days of the complaint first being received. In all other cases we will send our final response within 15 business day of the complaint first being received according to the Regulation 101 of the PSD2 (Payment Service Directive).
The Financial Ombudsman Service is an independent and government-backed service designed to help retail consumers who find themselves in a dispute with a financial organisation such as us. It is a free service, and it can be contacted at any point in a dispute providing the complainant has first contacted the financial organisation with whom the dispute relates to.
To contact the FOS, consumers are advised to write or phone or email their situation to:
Address:Financial Ombudsman Service South Quay Plaza, 183 Marsh Wall London, E14 9SR
Phone:0845 0801800
Email:Complaint.info@financial-ombudsman.org.uk
UK Frontier Ltd does not offer tax advice, and our services should not be interpreted as such. Clients are fully responsible for their own tax obligations and are strongly encouraged to seek guidance from a qualified tax advisor to ensure compliance with all relevant tax laws.