Foreign Exchange Notice

Author: Ian Davis - Chief Operations Officer

Published: 23 Aug 2019

Last Updated: 1 Feb 2023


It is with regret that we can no longer offer a foreign exchange walk in service to the public unless certain criteria are met.

Foreign Exchange Notice Chards


HMRC require those who offer foreign exchange (or any cash service) to be registered as a “money services business” abbreviated to “MSB”. Our bank has recently announced that as a money service business we would need to undergo an intense annual audit and enhanced due diligence checks. This would normally be acceptable, and we would comply but the cost of such an audit is now into the tens of thousands of pounds! This is something our small profits from foreign exchange would fail to fund.

Who Can We Provide Foreign Exchange To?

Customers of our “main” business i.e. those who buy and sell coins or bullion items with us.


of those customers a limit of €1,000 (or the GBP/USD equivalent) applies - this could be a single transaction or a series of smaller transactions that seem to be linked.


If you are selling coins and/or bullion to Chards, we can still settle a part or full payment in US dollars or euros.

We Are Sorry – But Blame the Regulators!

The banks have to comply with the UK financial regulators which unfortunately means the rules there to protect the public are preventing an honest business from operating a bureau de change. We apologise in advance for the inconvenience and we hope you find a good deal on the high street! If anything changes, we will keep customers informed. 

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