Salary and Supplier Payments is a service provided by Modulr Finance Limited.
Please see the relevant
sections below for further information.
Legal
Modulr Finance Limited is a company registered in England with company number 09897957 and ICO
Registration: ZA183068, is registered with the Financial Conduct Authority as an EMD Agent of
Modulr FS Limited. Modulr FS Limited is Authorised and Regulated by the Financial Conduct
Authority as an Electronic Money Institution (Firm Reference Number: 900573).
In this section, you can find relevant legal documents relating to Salary and Supplier Payments and Modulr Finance Limited
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Regulatory
Modulr Finance Ltd is authorised by the Financial Conduct Authority under the Electronic Money
Regulations 2011 (Register Reference: 900573) for the issuing of electronic money.
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Complaints Procedure
Modulr’s commitment to customers
At Modulr each of our customers is important to us, and we believe you have the right to a fair,
swift and courteous service at all times.
When we are in receipt of your complaint we will deal with it promptly, effectively and in a positive manner.
Modulr Complaints Procedure
- We will acknowledge your complaint within 5 working days.
- We will investigate your complaint and endeavour to send a final response to you within 15
working days of receipt of your complaint. If we are unable to provide you with a final response
within this time, we will send you an update.
- If more than 35 working days from the date of your complaint has past and you haven’t received
a final response, or you are dissatisfied with the final response you have received (at any stage of the process) you can write to:
Financial Ombudsman Service
Exchange Tower
London
E14 9SR
Phone: 0800 023 4567 or 0300 123 9123
Website: www.financial-ombudsman.org.uk
You must refer your complaint to the Financial Ombudsman within 6 months of the date on the final response.
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How Modulr protects your accounts
Financial Crime Prevention measures in Salary and Supplier Payments
Salary and Supplier Payments are committed to helping the fight against financial crime and adopts
stringent policies and procedures to help prevent money laundering and other forms of financial crime.
Salary and Supplier Payments are intent on satisfying the requirements of Modulr’s local regulatory
and legislative obligations and have designed relevant Policies, Procedures and Systems to meet these requirements.
Salary and Supplier Payments will not tolerate money laundering and terrorist financing and has effective
measures in place to prevent, detect, and report all cases of actual or suspected money laundering or terrorist financing.
Customer due diligence/ Know your customer/ Know your business:
To comply with to legal obligations Modulr will ask you to provide us with information for you and your
business in order to verify your application. We may also ask you to provide documentation to verify these details.
Monitoring for suspicious activity and transactions:
Salary and Supplier Payments has adopted a risk-based approach for monitoring suspicious activities and
transactions and our systems continuously monitor for suspicious activity in line with this approach.
Fraud Detection Controls:
Modulr set transaction limits on your account to monitor for and prevent unexpected transactions from
occurring on your account. These limits will be communicated to you. If you exceed these limits we
may hold your payments and contact you to verify them.
Fraud Detection Monitoring:
Modulr’s fraud detection team monitor your account for suspicious activity or fraud. We might contact
you to discuss unusual transactions identified by our fraud team on your account. If we can’t reach you,
we might place a temporary block or hold on your account.
Verification Code:
Modulr will send you a verification code as an additional check following your request to open an account.
Automatic log off:
If there’s no activity on your account for 30 minutes, we’ll automatically log you off from the Salary and Supplier Payments.
Fraud Protection:
Modulr will never contact you to ask for your password or contact you to ask you to authorise transactions
we have input or provide details to enable the authorisation of a transaction.
Modulr will never request you to protect your funds by transferring them to a “safe account”.
You must never disclose your security credentials to any third party.
You must always ensure you are certain of the payment details to which you are sending funds, and verify
any changes of payment details for staff, suppliers or others with a trusted source.
For more information on protecting yourself from fraud you may wish to visit Take Five to Stop Fraud
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Sage Services
In respect of the services provided by Sage, the following apply:
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Sage Business Conduct
The Bribery Act 2010
We are committed to implementing and enforcing effective systems and processes to counter bribery and
corruption. As a UK company, Sage (UK) Ltd is bound by the laws of the UK, including the Bribery Act 2010,
in respect of our conduct both at home and abroad.
In addition, we will uphold all laws relevant to countering bribery and corruption in all the jurisdictions
in which we operate. As well as ensuring our own conduct is appropriate, we have also put in place procedures
to prevent bribery being committed on our behalf by any associated persons, i.e. anyone that performs services
for or on our behalf, such as our people, and in some cases, subsidiaries and third parties we work with.
This is the standard of behaviour customers, suppliers and partners can expect from us and that we expect from them.
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