How is Modulr AP Accounts Payable (formerly Nook) Regulated and How Are Your Funds Protected
If you are a customer of Nook that registered before Friday 7th February 2025 - please go here
The services provided by Modulr Finance Limited:
The Accounts Payable Product
This means the processing of invoices and the payment of these invoices (in GBP and EUR) using the payment methods supplied by Modulr Finance Limited (for example, Faster Payments and CHAPs).
The Payroll Product.
This means the payroll and tax payments (in GBP and EUR) using the payment methods supplied by Modulr Finance Limited.
Modulr Finance Limited is a company registered in England with company number 09897957 and ICO registration: ZA183068, registered with the Financial Conduct Authority (Firm Reference Number: 900699) as an EMD Agent of Modulr FS Limited. Modulr FS Limited is a company registered in England with company number 09897919 and ICO registration: ZA183098, authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution (Firm Reference Number: 900573).
The services provided by Currencycloud Limited:
The FX Product (provided by Payable Limited (“Nook”)
This means any currency exchanges services and international payments (currencies other than EUR and GBP, as found here) which are required to use the Accounts Payable or the Payroll Product.
For example, if you have topped up your Modulr Account in GBP and your invoice must be paid in Australian Dollars, then Modulr Finance Limited cannot support this currency exchange. Instead, Nook will complete this and will support the payment in Australian Dollars.
Nook is a Modulr Group Company which is in England and Wales with Company Number 12921042 and with office at 128 City Road, London, England, EC1V 2NX. Nook is registered with the Financial Conduct Authority as an EMD Agent (reference number: 972652) of The Currency Cloud Limited (TCCL), an Electronic Money Institution authorised by the Financial Conduct Authority (reference number: 900199). For the avoidance of doubt, TCCL enables the conversion of the currencies listed on its website (as set out here, and as amended from time to time).