Complaint Handling Procedure

Our Commitment to Resolving Your Concerns

At Unicorn Currencies, we are committed to providing excellent service to all our clients. However, we recognize that there may be occasions when you are not satisfied with our service or have a concern about how we have handled your account or transaction.

We take all complaints seriously and have established a clear, transparent complaint handling procedure to ensure your concerns are addressed fairly, promptly, and professionally.

What Constitutes a Complaint?

A complaint is any expression of dissatisfaction with our services, including but not limited to:

(a) Delays in processing transactions or payments;

(b) Errors in foreign exchange rates or transaction execution;

(c) Issues with account opening, verification, or closure;

(d) Concerns about fees or charges;

(e) Customer service quality or communication issues;

(f) Data protection or privacy concerns;

(g) Any other aspect of our service that did not meet your expectations.

How to Submit a Complaint

Step 1: Initial Contact and Acknowledgment

Submit Your Complaint

Please send your complaint via email to:

Email: compliance@unicorncurrencies.com

Alternatively, you may write to us at:

For Canadian Clients:
Compliance Department
Unicorn Currencies Limited
5577 153A Street, Suite 207
Surrey, V3S 5K7, British Columbia
Canada

For UK, EU, and Rest of World Clients:
Compliance Department
Unicorn Currencies Ltd
4th Floor, Silverstream House, Fitzroy Street
London, W1T 6EB
United Kingdom

What to Include in Your Complaint

To help us investigate and resolve your complaint efficiently, please provide:

(a) Your full name and contact details (email address and phone number);

(b) Your account number or client reference number (if applicable);

(c) A clear description of your complaint, including relevant dates and transaction references;

(d) Copies of any supporting documents (emails, transaction confirmations, statements);

(e) What outcome or resolution you are seeking.

Acknowledgment

We will acknowledge receipt of your complaint within 24 hours (during Business Days) via email, confirming:

(a) That we have received your complaint;

(b) The reference number assigned to your complaint;

(c) The name of the Compliance Officer handling your case;

(d) The expected timeline for our investigation and response.

Step 2: Investigation and Final Response

Formal Investigation

Once your complaint is acknowledged, we will:

(a) Conduct a thorough investigation into the circumstances of your complaint, including reviewing relevant records, transaction data, correspondence, and internal procedures.

(b) Gather additional information if needed. We may contact you for clarification or additional documentation to ensure we fully understand your concerns.

(c) Consult relevant departments including Operations, Customer Service, Compliance, and Senior Management as appropriate.

(d) Assess liability and appropriate remedies based on our findings, including whether any error occurred, whether any compensation is warranted, and what steps we can take to resolve the issue.

Final Response Letter

We will provide a Final Response Letter within 15 Business Days of acknowledging your complaint (or sooner where possible). Our Final Response Letter will include:

(a) A summary of your complaint;

(b) The findings of our investigation;

(c) Our decision regarding your complaint (whether upheld, partially upheld, or not upheld);

(d) An explanation of the reasoning behind our decision;

(e) Details of any remedial action, compensation, or corrective measures we will take;

(f) Information about your right to escalate the complaint to an independent dispute resolution body (see Step 3 below).

Extension of Timeframe

In complex cases requiring extensive investigation (e.g., involving third-party banking partners, legal issues, or detailed transaction analysis), we may require additional time to fully investigate. If we need more than 15 Business Days, we will:

(a) Notify you in writing before the 15-day deadline expires;

(b) Explain the reasons for the delay;

(c) Provide a revised timeframe for our Final Response Letter (typically no more than 35 Business Days from initial acknowledgment unless exceptional circumstances apply);

(d) Keep you updated on progress.

Step 3: Escalation to Independent Dispute Resolution

If you are not satisfied with our Final Response Letter, or if we have not resolved your complaint within the specified timeframe, you have the right to refer your complaint to an independent external dispute resolution body.

The appropriate dispute resolution service depends on your location and which Unicorn entity you contract with:

For UK, EU, and Rest of World Clients (Unicorn Currencies Ltd)

Financial Ombudsman Service (FOS)

You have the right to refer your complaint to the Financial Ombudsman Service, a free, independent service established by law to resolve disputes between consumers and financial services firms.

Eligibility:

(a) You must be an eligible complainant (individuals, micro-enterprises, small businesses, charities, or trusts with annual turnover below certain thresholds).

(b) You must have received our Final Response Letter, or more than 8 weeks have passed since you submitted your complaint without receiving a Final Response.

(c) You must refer your complaint to FOS within 6 months of the date of our Final Response Letter.

How to Contact the Financial Ombudsman Service:

Website: https://www.financial-ombudsman.org.uk
Email: complaint.info@financial-ombudsman.org.uk
Phone: 0800 023 4567 (free from landlines and mobiles) or +44 20 7964 0500
Address:
Financial Ombudsman Service
Exchange Tower
London E14 9SR
United Kingdom

What FOS Can Do:

(a) Review your complaint impartially and independently;

(b) Make a binding decision on Unicorn if they find in your favor (up to £415,000 for complaints referred on or after April 1, 2024);

(c) Award compensation, require us to take specific actions, or direct us to correct errors.

Important: FOS decisions are binding on Unicorn but not on you. If you disagree with FOS's decision, you retain the right to pursue legal action.

For Canadian and US Clients (Unicorn Currencies Limited)

ADR Chambers Banking Ombuds Office (ADRBO)

You have the right to refer your complaint to the ADR Chambers Banking Ombuds Office (ADRBO), an independent, impartial external complaint body for the banking and financial services industry in Canada.

Eligibility:

(a) You must be a consumer, small business, or eligible entity.

(b) You must have received our Final Response Letter, or more than 90 days have passed since you submitted your complaint without resolution.

(c) Your complaint must relate to a service or product covered by ADRBO's mandate (foreign exchange and payment services are covered).

How to Contact ADRBO:

Website: https://bankingombuds.ca
Email: info@bankingombuds.ca
Phone: 1-888-451-4519 (toll-free) or 416-287-2877
Address:
ADR Chambers Banking Ombuds Office
234 Eglinton Avenue East, Suite 407
Toronto, ON M4P 1K5
Canada

What ADRBO Can Do:

(a) Conduct an independent, impartial review of your complaint;

(b) Make non-binding recommendations for resolution;

(c) Recommend compensation of up to CAD $350,000 (as of 2024; amount may be updated periodically).

Important: ADRBO recommendations are non-binding but are typically accepted by member institutions. If the recommendation is not satisfactory or accepted, you retain the right to pursue legal action through the courts.

Alternative Dispute Resolution for Corporate and Commercial Clients

If you are a corporate client, large business, or institutional client that does not meet the eligibility criteria for FOS or ADRBO (e.g., due to turnover thresholds), you may still have access to alternative dispute resolution mechanisms including:

(a) Commercial mediation services (e.g., ADR Institute of Canada, Centre for Effective Dispute Resolution in UK);

(b) Arbitration in accordance with the dispute resolution provisions in the Master Services Agreement;

(c) Legal proceedings in the courts of the applicable jurisdiction.

Please contact our Compliance Department for guidance on appropriate dispute resolution options for commercial clients.

Our Commitment to Continuous Improvement

We view complaints as valuable opportunities to improve our services and client experience. We:

(a) Analyze complaint trends to identify systemic issues and areas for improvement;

(b) Implement corrective actions to prevent recurrence of issues;

(c) Report complaints data to Senior Management and the Board of Directors quarterly;

(d) Provide staff training based on lessons learned from complaints;

(e) Review and update policies to enhance service quality and compliance.

Regulatory Oversight

Our complaint handling procedures are designed to comply with:

(a) FINTRAC Guidance on complaint handling for Money Service Businesses (Canada);

(b) FCA Handbook – DISP (Dispute Resolution: Complaints) (UK);

(c) Best practices from the Canadian Ombudsman for Banking Services and Investment Industry.

We maintain complaint handling records for at least 7 years and make aggregated complaint data available to regulators upon request.

Contact Information

For All Complaint-Related Inquiries:

Email: compliance@unicorncurrencies.com

Unicorn Currencies Limited (Canada)
Compliance Department
5577 153A Street, Suite 207
Surrey, V3S 5K7, British Columbia, Canada
Phone: +1 (548) 488-0818

Unicorn Currencies Ltd (United Kingdom)
Compliance Department
4th Floor, Silverstream House, Fitzroy Street
London, W1T 6EB, United Kingdom
Phone: +44 (20) 8064-0818