Oakmon Limited - Terms and Conditions of Service

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  1. About Us

Oakmon Limited ("Oakmon", "we", "us", or "our") is a company incorporated in England and Wales under Company Number 11565698. We are authorised and regulated by the Financial Conduct Authority (FCA) as a Small Payment Institution (Firm Reference Number: 911507) and registered with HM Revenue & Customs (HMRC) for Anti-Money Laundering (AML) supervision (Registration Number: XYML00000158195).

We provide secure, efficient, and compliant international money remittance services in accordance with applicable UK and international regulations.

2. Scope of Services

Oakmon offers the following services (collectively, the "Services"):

· International money transfers for individuals and businesses

· Currency exchange related to remittance

· Disbursement via direct bank transfer

· Client onboarding, KYC, and verification

· Transaction screening and AML compliance monitoring

We do not:

· Hold client funds in bank accounts as deposits

· Provide loans, credit, or investment services

· Offer cryptocurrency services

3. Subject of Agreement

These Terms and Conditions ("Agreement") govern your use of Oakmon’s Services. By accessing or using our Services, you confirm your understanding and acceptance of these Terms. If you do not agree, you must refrain from using our services.

4. Eligibility

To use our Services, you must:

· Be at least 18 years old and legally capable of entering into a contract

· Provide valid identification and address documentation

· Be resident in a jurisdiction not subject to international sanctions

· Not use the services for unlawful, fraudulent, or prohibited activities

We reserve the right to refuse or terminate service where:

· You fail to meet identification or verification requirements

· There is suspicion of money laundering, terrorist financing, fraud, or sanctions evasion

· Required information is incomplete or misleading

5. Client Onboarding and Identity Verification

As part of our legal obligations, we must conduct Know Your Customer (KYC)and Customer Due Diligence (CDD). You agree to:

· Provide a valid government-issued ID and proof of address

· Submit documents evidencing source of funds or wealth when requested

· Allow us to perform electronic identity checks and screening against sanctions listsand PEP databases

· Undergo Enhanced Due Diligence (EDD) where necessary (e.g., for high-risk transactions or clients)

Failure to comply may result in the rejection or suspension of your account.

6. Initiating a Payment

6.1 Payment Process

To initiate a transfer, you must:

· Submit payment instructions via our secure platform

· Provide accurate recipient and transaction details

· Ensure sufficient cleared funds are received

· Provide any documents requested for compliance

We are not liable for errors resulting from incorrect information provided by you.

6.2 Irrevocability

Once a transaction is confirmed and funded, it may not be cancelled or amended unless required by law or under exceptional circumstances.

6.3 Processing Times

Typical delivery times range from 1 to 5 business days but may vary based on:

· Destination country and currency

· Availability of local payment networks

· Required compliance or AML checks

7. Fees and Exchange Rates

· All applicable transaction fees and exchange rates will be clearly disclosed prior to confirmation.

· Oakmon uses real-time market rates but does not guarantee rates until transaction confirmation.

· Additional intermediary fees or bank charges may apply and are outside Oakmon’s control.

8. Cancellations and Refunds

· Transactions may be cancelled before disbursement, subject to review and potential fees.

· Once a payment has been released to the beneficiary, cancellations are typically not possible.

· Refunds are only made to the original funding source, in the original currency, minus applicable costs.

· Refunds will not be issued if the recipient has already collected the funds.

9. Privacy and Data Protection

Oakmon processes all client data in compliance with the UK GDPR and Data Protection Act 2018.

9.1 Data Collected

We collect and retain:

· Identity and address documents

· Contact and payment details

· Transaction history

· Source of funds/wealth documentation

9.2 Use of Data

Your data is used for:

· Legal and regulatory compliance (FCA, HMRC, etc.)

· Fraud prevention and risk management

· Transaction processing and customer support

9.3 Third Party Sharing

We may share your data with:

· FCA, HMRC, and other regulators

· Identity verification and fraud prevention agencies

· Banks, payment providers, and partners

9.4 Your Rights

You have the right to:

· Access your data

· Correct inaccurate data

· Request deletion (subject to regulatory retention obligations)

10. Compliance with Sanctions and Prohibited Activities

You agree not to:

· Send or receive funds from sanctioned individuals, countries, or entities (OFAC, UN, EU, UK lists)

· Engage in fraud, money laundering, terrorism financing, or similar activities

· Provide false or misleading information

Oakmon reserves the right to freeze, block, or report any suspicious activity or non-compliant transaction.

11. Liability and Limitations

Oakmon shall not be liable for:

· Indirect, incidental, or consequential damages

· Delays due to intermediary banks, technical issues, or regulatory checks

· Exchange rate losses

· Any act of force majeure (e.g., natural disasters, political events)

Our maximum liability in any event shall be limited to the amount of the affected transaction.

12. Complaints and Dispute Resolution

If you have a complaint, please contact us at:

📧 info@oakmon.co.uk

We aim to respond within 15 business days. If unresolved, you may contact the Financial Ombudsman Service (FOS) at:

🌐 www.financial-ombudsman.org.uk

13. Amendments to Terms

Oakmon may update these Terms from time to time. Any changes will be posted on our website and communicated to you. Continued use of our Services indicates your acceptance of the revised terms.

14. Governing Law and Jurisdiction

These Terms are governed by the laws of England and Wales. All disputes will be subject to the exclusive jurisdiction of the courts of England and Wales.

Terms and Conditions for Oakmon Limited

Last Updated: [April 2025]

Contact Us 

Oakmon Limited
Email: [info@oakmon.co.uk]
Phone: [02079717726 & 07999569600]
Website: [www.oakmonltd.com]

By using our services, you agree to these Terms and Conditions.