new account regulations

I recently discovered I had an inactive account at with a foreign exchange company (in the UK) and asked about the new regulations. The person I talked to wasn't too informed, but the bottom line is that starting next year, they won't take American clients.

Was this a company you used to transfer funds between the US and the UK? I need to "top up" my US ING account for my student loans, and they don't take international wire transfers, so I was trying to avoid involving my parents by possible using one of those companies.

I recently discovered I had an inactive account at with a foreign exchange company (in the UK) and asked about the new regulations. The person I talked to wasn't too informed, but the bottom line is that starting next year, they won't take American clients.

There seems to have been a problem last year (December) with one company, but it was related to 'persons based in the US'.
http://britishexpats.com/forum/showthread.php?t=739578

Was this a company you used to transfer funds between the US and the UK? I need to "top up" my US ING account for my student loans, and they don't take international wire transfers, so I was trying to avoid involving my parents by possible using one of those companies.

It's a foreign currency exchange - you make a contract with them to pay them pounds and buy an equivalent amount of a different currency (eg, dollars) at a certain price (better than what banks give). Then they send the purchased money to the bank account you have in that purchased currency (eg, dollars) wherever that account is. However, they do all the transfers by wire so that wouldn't help you.