Business Affiliates
United Currency Exchange is an independent entity. We are not affiliated with any other entities using a similar business name in other locations. United Currency Exchange works and maintains good relationships with its affiliates such as landlords, accountants, lawyers, authorised compliance auditor, banks, IT contractors, and the government bodies which govern the business.
Licensing & Regulatory Registration
United Currency Exchange™ is registered with AUSTRAC and operates in compliance with Australian AML/CTF regulations. The company is also authorised by ASIC to provide financial services in Australia.
AUSTRAC Registration Number: 100039123
ASIC AFSL Number: 557103
AML/CTF Program
United Currency Exchange™ Anti Money Laundering and Counter Terrorism Policy and Program.
As United Currency Exchange™ operates in the financial industry, there is always risk that its products and services are being used for money laundering and terrorism financing activities. Therefore, United Currency Exchange™ adopts and implements strict policy and procedure in order to mitigate the AML/CTF risks of the business.
Money Laundering and Terrorism Financing Are Extremely Serious Crimes
Under the AML/CTF Act and Rules set by AUSTRAC, United Currency Exchange™ has strictly implemented the following policy and procedure:
- Adopting an AML/CTF Program for its business operations
- Appointing a Compliance Officer who is available to review, assess, and authorise certain transactions during business hours
- Conducting regular employee training on AML/CTF semi-annually
- Annually conducting Employee Due Diligence check and verification
- Appointing an AUSTRAC approved external auditor to conduct reviews on its AML/CTF Program every 2 years
- Identifying all of its customers prior to providing its designated services
- Verifying its customers electronically to ensure that they are not "Politically Exposed Persons" (PEP)
- Obtaining additional information from its customers according to Privacy Act 1988 and Australia Privacy Principles for ECDD purposes
- Monitoring transactions on a daily basis
- Reporting cash transactions equivalent of AUD 10,000 and more to AUSTRAC
- Reporting suspicious transactions to AUSTRAC within specified timeframes
- Submitting Compliance Reports to AUSTRAC annually
- Regularly assessing the associated ML/TF risks to the business
- Keeping all relevant records for a minimum of 7 years
- Complying with its AML/CTF Program at all times as required by the relevant government bodies in Australia
Due to the regulations and associated ML/TF risks, United Currency Exchange™ currently does not deal or provide services such as remittance to overseas bank accounts and international electronic transfers to its customers.
Compliance & Regulatory Memberships
United Currency Exchange™ complies with Australian sanctions laws by regularly screening individuals and entities against the Department of Foreign Affairs and Trade (DFAT) Consolidated List, which includes UN, EU, UK, and Australian sanctions. We do not provide services to any sanctioned individuals, entities, or restricted nationalities.
United Currency Exchange™ is also registered with the Australian Attorney-General's Department as an authorised Business User of the Document Verification Service (DVS), enabling identity verification through Information Match Requests (IMR).
United Currency Exchange™ is a member of the Australian Financial Complaints Authority (AFCA). Membership Number: 35338.
Accepted Photo ID Documents
An Original or Certified Copy of a Primary Photo Identification Document
- A valid passport issued by Commonwealth or by a foreign government for the purpose of international travel, that:
Contains a photograph and signature of the customer in whose name the document is issued;
Is issued by United Nations or an agency of the United Nations; and
Is written in a language that is understood by the person carrying out the verification (must have English language).
Is written in a language that is not understood by the person carrying out the verification but is accompanied by an English translation prepared by an accredited translator.
- A valid driver license issued under a law of a State or Territory or equivalent authority of a foreign country for the purpose of driving a vehicle that contains a photograph of the customer in whose name the document is issued, such as learner permit and boat/marine license;
- A card issued under a law of a State or Territory for the purpose of proving the person's age which contains a photograph of the person in whose name the document is issued, such as PROOF OF AGE card;
- A national identity card issued for the purpose of identification, that:
Contains a photograph and the signature of the person whose name the document is issued;
Is issued by a foreign government, the United Nations or an agency of the United Nations; and
Is written in a language that is understood by the person carrying out the verification.
An Original or Certified Copy of Additional/Supplementary Photo IDs
(cannot be used as primary/sole identification)
- Australian / Overseas Bank Debit Card
- Australian / Overseas Bank Credit Card
- Medicare Card
- Bank Statement
- Utility Bill
- Confirmation of Enrolment (COE issued by the Australian Government)
- Medibank Card
- Australian Tertiary Institution / Overseas Student Card
- Health Care Card
- Pensioner Card
- KEYPASS Card
- Security Licence
- APEC Business Travel Card
- Marriage Certificate
- Tax Assessment Form
- Birth Certificate
Other forms of customer identification, which are not issued by any government, including expired ID, student ID, employee ID, or loyalty Card etc are considered void and unacceptable at United Currency Exchange™.