...Welcome
To UK Money Transmitters Association
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Who we are
The UK Money Transmitters Association (UKMTA) represents Money Service Businesses registered with HM Revenue and Customs for the purpose of money transfer. Since 1st November 2009, these companies are also regulated as Payment Institutions by the Financial Services Authority.
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The Association has developed a programme
of activities to:
Hold London conferences (three a year) plus other regional and issue specific meetings at which those with an interest in money transfer can come together to discuss issues of common concern.
Be the representative of the
industry with the UK government and the European Union – in particular, to
ensure that the voice of smaller and medium sized money transfer companies is
heard
Engage in dialogue with the regulators to ensure that the relevant laws and regulations are fairly and consistently applied
Establish and promote shared high standards across the money transfer industry and to establish and promote an industry wide ‘quality mark’
Establish an effective dialogue
with the UK banks to ensure that they behave reasonably in their relations with
money transmitters
Establish and promote ‘best
practice’ models in connection with issues such as effective customer ID checks,
training systems and procedures, suspicious transaction reporting, record
keeping, audit trails, etc.
Provide training, information and support to money transmitters to help them comply with the laws and regulations around money transfer and the payments industry
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