Non-permitted activity

Non-Permitted Activity

As part of our ongoing commitment to mitigate the risk of money laundering and terrorist financing, HUBFX has a number of restrictions on the type of industries, activities, and countries we support and service. Failure to comply with these restrictions can result in delayed payments or rejected payments with continuous breaches leading to account closure.

Non-permitted industries – global

  • Weapons / military-grade security
  • Multi-level marketing
  • Pawnbrokers [MCC: 5933 – Pawn Shops]
  • Political organizations [MCC: 8651 – Organizations, Political]
  • Precious metals and stones [MCC: 5094 – Precious Stones and Metals, Watches and Jewelry]
  • Adult entertainment
  • Drug paraphernalia
  • CBD and related products 
  • Carbon credits
  • Cryptoassets
  • Gambling [MCC: 7995 – Betting (including Lottery Tickets, Casino Gaming Chips, Off – track Betting and Wagers)]
  • Ponzi / pyramid schemes
  • Firms involved in the servicing of illegal goods/services including but not limited to: counterfeit goods/trademark infringement, human trafficking, child labor, prostitution.
  • Mining and extraction
  • Speculative trading

Non-permitted industries – United States of America

  • Chemicals
  • FDA classified medical devices 
  • Medications or prescription drugs
  • Alcohol [MCC: 5813 – Drinking Places (Alcoholic Beverages), Bars, Taverns, Cocktail lounges, Nightclubs and Discotheques]
  • Tobacco [MCC: 5993 – Cigar Stores and Stands]
  • Dietary supplements
  • Seeds or plants [MCC: 5193 – Florists Supplies, Nursery Stock, and Flowers]
  • Regulated financial services
  • Outbound telemarketing [MCC: 5966 – Direct Marketing-Outbound Telemarketing Merchants]

Non-permitted client types

  • Financial Institutions making payments on behalf of other financial institutions, also known as ‘nested relationships’ or ‘layering.’
  • Shell banks
  • Unregistered charities

Non-permitted activities

  • Clients are not allowed to use our services to speculate changes in FX
  • Transactions deriving from crypto currencies

Non-permitted jurisdictions

See Permitted Jurisdictions and Restricted Jurisdictions

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ALL RIGHTS RESERVED © 2024 HUBFX
Business Office at 7 Bell Yard, London, WC2A 2JR, United Kingdom

HUBFX Asia  Business Office at
100 Peck Seah St, 079333, Singapore

ALL RIGHTS RESERVED © 2024 HUBFX
Business Office at 7 Bell Yard, London, WC2A 2JR, United Kingdom

HUBFX Asia  Business Office at
100 Peck Seah St, 079333, Singapore

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For clients based in the European Economic Area, payment services for HUBFX are provided by CurrencyCloud B.V.. Registered in the Netherlands No. 72186178. Registered Office: Nieuwezijds Voorburgwal 296 – 298, Mindspace Nieuwezijds Office 001 Amsterdam. CurrencyCloud B.V. is authorised by the DNB under the Wet op het financieel toezicht to carry out the business of an electronic-money institution (Relation Number: R142701).  For clients based in the United States, payment services for HUBFX are provided by The Currency Cloud Inc. which operates in partnership with Community Federal Savings Bank (CFSB) to facilitate payments in all 50 states in the US. CFSB is registered with the Federal Deposit Insurance Corporation (FDIC Certificate# 57129). The Currency Cloud Inc is registered with FinCEN and authorised in 39 states to transmit money (MSB Registration Number: 31000206794359). Registered Office: 104 5th Avenue, 20th Floor, New York , NY 10011. For clients based in the United Kingdom and rest of the world, payment services for HUBFX are provided by The Currency Cloud Limited. Registered in England and Wales No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199).

Payment services for HUBFX UK and US are provided by The Currency Cloud Limited. Registered in England No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199) and The Currency Cloud Inc. which operates in partnership with Community Federal Savings Bank (CFSB) to facilitate payments in all 50 states in the US. CFSB is registered with the Federal Deposit Insurance Corporation (FDIC Certificate# 57129). The Currency Cloud Inc is registered with FinCEN and authorized in 39 states to transmit money (MSB Registration Number: 31000160311064). Registered Office: 104 5th Avenue, 20th Floor, New York , NY 10011 

 

Payment services for HUBFX are provided by The Currency Cloud Limited. Registered in England No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199) and The Currency Cloud Inc. which operates in partnership with Community Federal Savings Bank (CFSB) to facilitate payments in all 50 states in the US. CFSB is registered with the Federal Deposit Insurance Corporation (FDIC Certificate# 57129). The Currency Cloud Inc is registered with FinCEN and authorized in 39 states to transmit money (MSB Registration Number: 31000160311064). Registered Office: 104 5th Avenue, 20th Floor, New York , NY 10011 and CurrencyCloud B.V.. Registered in the Netherlands No. 72186178. Registered Office: Nieuwezijds Voorburgwal 296 – 298, Mindspace Nieuwezijds Office 001 Amsterdam. CurrencyCloud B.V. is authorised by the DNB under the Wet op het financieel toezicht to carry out the business of a electronic-money institution (Relation Number: R142701)

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