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Financial Conduct Authority (FCA)
The Financial Conduct Authority (FCA) is an independent, non-governmental UK body responsible for monitoring and regulating the UK financial services industry. It has two main goals:
- To ensure the stability of the UK’s financial markets.
- To ensure that financial service firms act in a responsible and safe way.
The FCA implements rules and regulations with UK financial companies to protect consumers from bad practice, poor advice, financial mismanagement and other issues. It does this by setting minimum standards for financial products, supervising financial institutions and ensuring they treat customers correctly and authorizing financial service providers to operate.
Currency exchange and money transfer providers that are based in the UK are regulated by the FCA and must demonstrate that they meet regulatory standards. Providers that are not based in the UK may also decide to seek regulation from the FCA.
The FCA is a financial regulatory authority.
The Monito Glossary
When it comes to moving money, don't let yourself be bogged down by all the jargon. Explore The Monito Glossary to get up to speed with everything you need to know about money transfers.
Other Popular Money Transfer Definitions
Why Trust Monito?
You’re probably all too familiar with the often outrageous cost of sending money abroad. After facing this frustration themselves back in 2013, co-founders François, Laurent, and Pascal launched a real-time comparison engine to compare the best money transfer services across the globe. Today, Monito’s award-winning comparisons, reviews, and guides are trusted by around 8 million people each year and our recommendations are backed by millions of pricing data points and dozens of expert tests — all allowing you to make the savviest decisions with confidence.
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Monito is trusted by 15+ million users across the globe.
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Our recommendations are always unbiased and independent.
