Introduction

Bound Rates Limited (“Bound, we”) are committed to providing the highest-quality service and fair treatment to our existing and potential customers. However, we recognise there may be instances where things go wrong, misunderstandings arise or you are not satisfied with the level of service or treatment you have received from us.

We have therefore, in accordance with Financial Conduct Authority (“FCA”) rules, implemented a Complaints Handling Policy and Procedures. This document sets out the process that will be followed in responding to complaints for clients and potential clients.

What is a complaint?

A “complaint” is defined as any expression of dissatisfaction from or on behalf of a client about Bound’s provision of, or failure to provide, a financial service.

A complaint does not need to be in writing and does not need to specifically reference that it is a complaint. However, while we provide periodic training and guidance to our staff enable them to identify and address complaints promptly and fairly, we do recommend that, if you do wish to raise a complaint, that you provide:

• As much information as you can on the nature of and reason for your complaint.

• The relevant contact details for responding to your complaint.

Raising a complaint

You can raise a complaint by contacting your usual account executive or contact at Bound. Alternatively, you may wish to contact our complaints handling team using the contact details set out below.

Post:  Compliance, Bound Rates Limited, 16 Great Chapel Street, London, W1F 8FL

Email:  compliance@bound.co

Telephone:  Please contact using your normal business contact or on our office number 020 8064 0360 and ask for the Compliance Team.

Overview of our process for addressing complaints

All complaints are taken very seriously and any feedback is appreciated as it provides us with an opportunity to improve our standards. In line with our commitment to you, as well as our legal and regulatory obligations, we shall endeavour to:

• Acknowledge and respond to your complaint without undue delay.

• Provide detailed and clear information as to our reasons for not upholding any complaint or not offering any redress or remedial actions.

• Investigate and handle your complaint fairly and impartially.

• Provide details of alternative dispute resolution options available to you.

• Communicate with you openly and clearly.

• Keep you informed about progress in resolving your complaint.

• Provide redress or carry out remedial action promptly, if this is appropriate.

You may have the right to make a complaint to a regulatory body and/or take civil action. We would, however, appreciate the chance to deal with your concerns before you approach any such regulatory body or take such action, so please contact us in the first instance.

What you can expect from us in relation to any complaints

In accordance with the FCA rules, when responding to any complaint we will:

• Send you a written acknowledgment providing you with the contact details for the department handling your complaint within 3 business days following the day it was received.

• Keep you updated on progress in resolving your complaint.

• Seek to provide a final response as soon as possible and within 8 weeks (the response time set out in FCA rules) from the date the complaint was received.

• If unable to provide a final response within 8 weeks, we will inform you in writing as soon as we know this will be the case.

• We will provide you with information on the Financial Ombudsman Service (“FOS”) so that you can consider whether you are able to raise your complaint to them and how to do so.

If we are able to reach a resolution with you within 3 business days from the day after the day the complaint was received we will not apply the above process and will send you a Summary Resolution Communication. This will make clear our conclusions in relation to the complaint and indicate whether you are able to refer your complaint to the United Kingdom Financial Ombudsman Service. This communication will also make clear that you can request we start our formal Complaints Process as set out above if dissatisfied.

Where Bound has opened an e-money or payment account with a regulated service provider on your behalf:  The timeline for response to complaints relating to e-money or payments services will be within 15 working days, or 35 in exceptional circumstances.

Referring your complaint elsewhere

If we believe another firm is responsible for the complaint, we will forward it to them in writing and inform you we have done so. If we feel that the other firm is jointly responsible, we will inform you of the referral, provide the relevant contact details, and continue our investigation of the part of your complaint that comes under our remit.

We work with e-money and payments institution partners, including Currencycloud, in providing you with our service. Currencycloud ultimately provides e-money and payments services, i.e. geographically or functionally limited elements of regulated payments and e-money services in various jurisdictions. We keep them informed of the complaints we receive from you regarding the regulated payments and e-money services they may ultimately provide to you. They oversee how we handle complaints to ensure we do this to the standard required under the regulations.

However, if for any reason your complaint regarding your payments and e-money services has not been acknowledged or dealt with by us, or if you have concerns about the way it has been handled, Currencycloud’s complaints information can be found here.

Cooperating with the Financial Ombudsman Service

We will cooperate fully with the Financial Ombudsman Service in relation to any complaint that they accept. Information regarding the service of the Financial Ombudsman can be found here.