Multi-currency and FX account for precious metals and bullion dealers with a UK limited company

We begin by mapping your specific currency requirements, including payment corridors, monthly volumes, and key counterparties. Based on this, we identify the most suitable UK or EEA-authorised payment institutions, prioritising those with established FX capabilities and a clear appetite for the precious metals sector.

Our team then prepares a complete file for the provider's underwriting team. This includes your corporate documents, director and owner KYC, bullion supplier contracts, and a detailed narrative explaining your business model and flow of funds. We manage the introduction and support you through the onboarding process until your accounts are live and operational.

Provider compliance teams focus on the origin and flow of funds. They will verify your company's registration for AML supervision, scrutinise your AML/CFT policy, and expect to see contracts with your suppliers and refineries. We ensure your application clearly proves that you do not handle metals of unverified origin.

Underwriters will also analyse your requested currency corridors for any exposure to high-risk or sanctioned jurisdictions. The identities and residencies of the ultimate beneficial owners are verified to assess the overall risk profile of the business. Expect scrutiny of your expected FX volumes and commercial justification for your activities.

A UK limited company provides a credible corporate structure, but providers will look beyond the certificate of incorporation. While a UK registered office is required, underwriters will assess where the company's effective management and control is located, particularly if directors are non-residents. The UK has a strong domestic market of FCA-authorised payment institutions, but many are more cautious than their EU counterparts with high-risk sectors.

Your application file must include your Companies House filings, such as the PSC register extract, to establish clear ownership. We use this transparency to build a strong case with providers that look for well-governed UK businesses.

Accounts are often refused due to an incomplete picture of the business. A simple application without supporting evidence, such as supplier contracts or a robust AML policy, makes it impossible for an underwriter to approve. Another common reason for decline is a mismatch between the UBO's residency and the provider's geographical risk appetite.

Sudden changes in activity, such as transacting in new, high-risk currency corridors or a spike in transaction values without prior notification, can lead to account suspension. We help prevent this by presenting a clear, evidence-based file from the start and advising on how to maintain a transparent relationship with your provider.

For a well-prepared UK bullion dealer, securing a multi-currency account typically takes between one and five weeks from submission of the complete file. The timeline depends on the provider's complexity and their specific queries regarding your business model or ownership structure.

Once live, maintaining your account requires consistent communication with your provider. This includes giving advance notice of significant changes to your business, such as entering new markets, changing suppliers, or onboarding a new corporate director. We also recommend establishing a secondary provider relationship from the outset to ensure business continuity and operational resilience.