Where your money sits, and who is accountable for it.
We understand that moving significant sums, sometimes life savings, is not a decision to take lightly. This page sets out plainly how your funds are protected, who regulates the partners we work with, and what happens at each stage of a transfer.
Where your money is held
Client funds are never held in Oku's own accounts. They are safeguarded in ring-fenced accounts with our regulated payment partners, entirely separate from that partner's own operating funds. This means your money is protected even in the unlikely event that a partner, or Oku, were to face financial difficulty.
Who regulates our partners
We work with a panel of FCA-authorised and regulated payment institutions and electronic money institutions, rather than relying on a single provider. This gives us flexibility to source the most competitive and reliable route for your transfer, while ensuring every payment is handled by a properly regulated entity.
What happens to a transfer
Confirm your instruction
You confirm your instruction in writing or over the phone with your relationship manager, or via our online platform.
Verification
Larger or first-time transfers are verified by a call-back to a number we already hold on file for you, to guard against fraud.
Safeguarded funds
Funds are moved into a safeguarded client account held by our regulated partner.
Transfer executed
The transfer is executed and funds are sent to the destination account you've specified.
Confirmation
You receive confirmation once the funds have arrived.
Protecting you against fraud
We will never ask you to change your bank details by email alone, and we will always verify a change of payee details by phone before acting on it. If you're ever unsure whether a request has genuinely come from us, contact your relationship manager directly using the number you already have, not a number provided in the message itself.
Transparency on pricing
There are no hidden fees or undisclosed margins. You will know the exchange rate and any charges before you confirm a transaction, every time.
If you have concerns
If anything about a transaction or communication feels wrong, contact us immediately. Our full complaints procedure, and details of the Financial Ombudsman Service where applicable, are available on request.
Questions about how your funds are protected?
Speak to a specialistNow you know how your money is protected, take a closer look at our insights, who we are, and how to get started.