BFC Bank is a specialised challenger bank focused on international payments and cash management services. We received authorisation from the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) (FRN 716167) in September 2016. We exited mobilisation in October 2017 and will finalise our full service launch for early 2018.
Based on our ethos of fairness and transparency, BFC Bank offers low-cost basic corporate banking products that include international transactions, multi-currency cash management and UK domestic payments. Our suite of products is designed to simplify how overseas payments and foreign exchange are managed. This complements the existing banking arrangements of Small to Medium-sized Enterprises (SMEs). BFC Bank also provides support and services to Payment Service Providers (PSPs) who may face difficulty to access GBP bank accounts, domestic and international payments.
BFC Bank is a wholly-owned subsidiary of BFC Group Holdings (BFC Group), specialists in global money transfer, foreign exchange and wholesale currency services. We adhere to high regulatory compliance standards. With a 100-year history, we operate a network of international exchange and remittance companies across Bahrain, Kuwait, India and Malaysia. Present in the UK as BFC Exchange since 2003, we continue to provide a retail remittance service under this brand name.
Multi-Currency Current Accounts, Client Focus, UK Domestic and International Payments, Wholesale Currency Services, Cash Management Solutions, Notional Pooling, Foreign Exchange, SME, PSP, Client Money Accounts, Faster Payment Scheme, and Banknote Trading