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We treat all funds sent to us by clients, or on behalf of clients as client money. These funds are only used for client transactions and are kept in client accounts that are independent of our business accounts.
We keep approximately $10m collateral with our banks as security against transactions. When you enter into a transaction with us, we enter into a matching irrevocable covering deal with our bank. It is this transaction that turns your sold currency into your bought currency and from which your outward payment is made.
Our two main transaction banks are Barclays and Citibank, however if you prefer, you can send your funds within your bank. We additionally hold client accounts with HSBC, Bank of Ireland, Royal Bank of Scotland, CommerzBank (Germany) and Westpac (Australia). We also have correspondent banking accounts in virtually every country in the world.
"The proactive, professional service we receive from World First is what has really impressed me" Eva Galambos, Parlour.
"I really appreciate your services. Easy+reliable+very competitive rates." Bernard Haidinger
World First Pty Ltd is regulated by the Australian Securities and Investments Commission (ASIC) AFS Licence number 331945. Australian Company Number (ACN) 132 368 971. Member of the Financial Ombudsman Service membership number 134005.