Paying International Contributions
Using Digital Money Services
Hansard Worldwide Limited (“Hansard”) accepts contract contributions from clients around the world. Clients may choose how they pay contributions, including the use of third‑party digital money services where appropriate.
The information below explains how digital money services may be used to pay contributions and clarifies Hansard’s role and responsibilities. It does not constitute financial advice or a recommendation of any provider.
The Client Challenge: International Contribution Payments
Clients paying contributions across borders can experience:
Bank and intermediary charges
Foreign exchange (“FX”) conversion costs
Delays in cross border payments
Limited transparency over the total cost
For international clients, these factors can materially affect the cost and efficiency of paying their contract contributions.
What Are Digital Money Services?
Digital money services are third‑party providers that allow clients to hold money electronically, convert currencies, and make international payments. These services operate independently of Hansard and are selected and used solely at the client’s discretion.
Potential Client Benefits
Some clients choose digital money services because they may offer:
Lower FX costs
Exchange rates close to market rates, often with lower margins than traditional banks or card providers.
Greater transparency
Charges and exchange rates are typically shown before a payment is made.
Multi-currency flexibility
The ability to pay from a single multi‑currency account.
International accessibility
Payments can be made from a wide range of countries.
Payment reliability
Payments are made from available balances, reducing the risk of card declines.
Regulatory and Structural Differences
Examples (for illustration only): Wise and Revolut.
These examples do not constitute a recommendation or endorsement.
Aspect |
Revolut |
Wise |
|---|---|---|
| Regulatory model | Bank in some jurisdictions | Electronic money institution |
| Core activity | Digital banking and payments | Payments and foreign exchange |
| Treatment of client funds | Varies by jurisdiction | Safeguarded under e-money rules |
| Relationship to Hansard | Client-selected provider | Client-selected provider |
How a Contribution Payment Typically Works
Roles and Responsibilities
Hansard will:
- Accept cleared funds into its contribution collection account
- Apply the contribution to the contract once funds are received
- Provide standard payment instructions and references
Hansard will not:
- Recommend, approve, endorse, or arrange digital money service providers
- Assist with account opening or usage
- Intervene in disputes with third‑party providers
- Guarantee exchange rates, fees, or payment times
Frequently asked questions
Important Notice
Hansard undertakes appropriate anti‑money laundering and counter‑terrorist financing (AML/CFT) checks prior to accepting the payment of contributions from digital money services providers, including checks relevant to third‑party digital money services, for Hansard’s own regulatory and risk‑management purposes.
This does not involve assessing, approving, or endorsing digital money service providers. Clients remain responsible for understanding the regulatory status, protections, features, and risks of any provider they choose to use.
Hansard does not provide advice on payment methods or foreign exchange. This is for information purposes only. Clients should satisfy themselves that any payment method used is appropriate for their individual circumstances.
