What licenses & registrations do System Pay Services and our partners have?

System Pay Services and the our partners hold various licences and registrations in their respective jurisdictions in order to offer their services to you. Below is an overview of System Pay Services and our partners' licenses and registrations.

If you have any questions, or would like to understand which entity is relevant based on the services provided to you, please contact our support team or your dedicated Account Manager.

System Pay Services Group

Europe
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System Pay Services Ltd is a company incorporated in England and Wales with company registration number 11621763, and authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution (Reference Number: 901057).

System Pay Services (Malta) Ltd is a company incorporated in Malta with company registration number C66961, and authorised and regulated by the Malta Financial Services Authority as an Electronic Money Institution (Authorised Person ID: NOB). In addition, SPS Malta is authorised and regulated by the MFSA as a Crypto-Asset Service Provider in accordance with the Markets in Crypto-Assets Act (Chapter 647 of the Laws of Malta) and Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA) (Reference Number: C66961).

North America
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System Pay Services (US), Inc. is a company incorporated in the state of Delaware with company registration number 7605266. The company provides its services under the trade name BVNK where permitted, in jurisdictions across the United States.

Note: System Pay Services (US), Inc. is not licensed as a bank in the US and does not provide banking services. BVNK is a registered Money Services Business with the US Financial Crimes Enforcement Network and licensed in various states as a money transmitter or equivalent (NMLS ID 2531294).

Arizona

If you have a question about or problem with your transaction, please contact our support team.

If you still have an unresolved complaint regarding System Pay Services (US), Inc. money transmission activity, please contact the Arizona Department of Financial Institutions at: 100 N 15th Avenue, Suite 261 Phoenix, AZ 85007 or telephone: +1 (602) 771-2800

Arkansas
‍If you have a question about or problem with your transaction, please contact the BVNK Support Centre at complaints@systempay.co

North Dakota
If you are located in the North Dakota and have questions or concerns regarding System Pay Services (US), Inc, please contact our customer support at complaints@systempay.co or call 1 (888) 315-0331. If you still have an unresolved complaint regarding our activity, you may direct your question or complaint to the North Dakota Department of Financial Institutions at (701) 328-9933 or submit your complaint online: File a Complaint | ND Department of Financial Institutions.

South Dakota
‍If you are located in the South Dakota and have questions or concerns regarding System Pay Services (US), Inc, please contact our customer support at complaints@systempay.co or call 1 (888) 315-0331. If you still have an unresolved complaint regarding our activity, you may direct your question or complaint to the South Dakota Department of Labor and Regulation, Division of Banking at 1714 Lincoln Ave., Suite 2, Pierre, SD 57501 or call 1-605-773-3421.

Washington
‍If you are located in the Washington and have questions or concerns regarding System Pay Services (US), Inc, please contact our customer support at complaints@systempay.co or call 1 (888) 315-0331. If you still have an unresolved complaint regarding our activity, please contact the Washington State Department of Financial Institutions, Division of Consumer Services using one of the following methods: File a complaint online, mail, or fax: https://dfi.wa.gov/file-complaint, By phone: 1-877-RING DFI (1-877-746-4334), or by email: CSEnforceComplaints@dfi.wa.gov.

California
If you have any complaints with respect to any aspect of the money transmission activities conducted at this location, you may contact the California Department of Financial Protection and Innovation at its toll-free telephone number, 1-866-275-2677, by email at consumer.services@dfpi.ca.gov, or by mail at the Department of Financial Protection and Innovation, Consumer Services, 201 Arena Boulevard, Sacramento, CA 95834.

Colorado
Entities other than FDIC insured financial institutions that conduct money transmission activities in Colorado, including the sale of money orders, transfer of funds, and other instruments for the payment of money or credit, are required to be licensed by the Colorado Division of Banking pursuant to the Money Transmission Modernization Act, Title 11, Article 110, Colorado Revised Statutes.

If you have a question about or problem with your transaction, please contact our support team, or call +1 (888) 315-0331.

If you are a Colorado Resident and have a Complaint about System Pay Services (US), Inc. d/b/a System Pay Services please fill  out the Complaint Form provided on the Colorado Division of Banking’s website and return it and any documentation supporting the complaint via mail or email to the Division of Banking at: Colorado Division of Banking, 1560 Broadway, Suite 975, Denver, CO 80202. Or email: DORA_BankingWebsite@state.co.us / visit banking.colorado.gov/industry/money-transmitters

Connecticut
If your issue is unresolved by System Pay Services (US), Inc d/b/a System Pay Services, you may direct your complaint to the State of Connecticut Department of Banking. Please visit the State of Connecticut Department of Banking at File a Money Transmitter Complaint for additional information.

Please note the following disclosures associated with virtual currency:

WARNING: LOSSES DUE TO FRAUDULENT OR ACCIDENTAL TRANSACTIONS MAY NOT BE RECOVERABLE AND TRANSACTIONS IN VIRTUAL CURRENCY ARE IRREVERSIBLE.

• Virtual currency is not backed or insured by the government and accounts and value balances are not subject to Federal Deposit Insurance Corporation, National Credit Union Administration or Securities Investor Protection Corporation protections;
• Some virtual currency transactions shall be deemed to be made when recorded on a public ledger, which may not be the date or time when the customer initiates the virtual currency transaction;
• The value of virtual currency may be derived from the continued willingness of market participants to exchange fiat currency for virtual currency, which may result in the permanent and total loss of the value of a particular virtual currency, if the market for that virtual currency disappears;
• The volatility and unpredictability of the price of virtual currency relative to fiat currency may result in a significant loss over a short period of time;
• Any bond maintained by System Pay Services (US), Inc. d/b/a System Pay Services for the benefit of its customers may not be sufficient to cover all losses incurred by such customers;
• Any bond maintained by the licensee for the benefit of the customers of such licensee may not be sufficient to cover all losses incurred by such customers;
• Virtual currency transactions are irreversible and are used by persons seeking to defraud customers, including, but not limited to, a person impersonating a customer's loved one, threatening jail time, stating that a customer's identity has been stolen, insisting that a customer withdraw money from the customer's bank account and purchase cryptocurrency or alleging a customer's personal computer has been hacked.
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District of Columbia
If you have a question or complaint, please contact our support team or call +1 (888) 315-0331. If you do not receive a satisfactory response, you may file a complaint with DISB: District of Columbia Department of Insurance, Securities and Banking. 1050 First St., NE, Suite 801 Washington, DC 20002. Email: disbcomplaints@dc.gov or visit https://disb.dc.gov/

Florida
Notice: By granting System Pay Services a licence, the Florida Office of Financial Regulation is not endorsing the use of digital or virtual currencies.

• U.S. currency is legal tender backed by the U.S. government. Digital and virtual currencies are not issued or backed by the U.S. government, or related in any way to U.S. currency, and have fewer regulatory protections.
• The value of digital and virtual currencies is derived from supply and demand in the global marketplace, which can rise or fall independently of any fiat government currency.
• Holding digital and virtual currencies carries exchange rate and other types of risk. Potential users of digital or virtual currencies, including but not limited to Bitcoin, should be forewarned of a possible financial loss when such currencies are exchanged for fiat currency due to an unfavourable exchange rate. A favourable exchange rate at the time of exchange can result in a tax liability. Please consult your tax adviser regarding any tax consequences associated with your holding or use of digital or virtual currencies.

If you have a question or complaint, please contact our support team or call +1 (888) 315-0331. Florida residents may contact the Florida Office of Financial Regulation with any unresolved questions or complaints about System Pay Services (US), Inc. at: 200 E. Gaines Street, Tallahassee, FL 32399-0376, telephone: +1 (800) 848-3792 (toll free).

Illinois
The Illinois Department of Financial & Professional Regulation (https://www.idfpr.com/) will accept complaints at +1-888-473-4858, or by mail at: 320 West Washington Street, 3rd Floor, Springfield, Illinois 62786. You may also contact the Consumer Financial Protection Bureau for questions or complaints about System Pay Services (US), Inc. at https://www.consumerfinance.gov/ or by phone at +1 (855) 411-2372.

Kansas
If your issue is unresolved by System Pay Services (US), Inc. d/b/a System Pay Services, you may direct your complaint to the Kansas Office of the State Bank Commissioner. Please visit File a Complaint for additional information.

Maine
If your issue is unresolved by System Pay Services (US), Inc., you may direct your complaint to the Maine Bureau of Consumer Credit Protection at +1 (207) 624-8527. Please visit https://www.maine.gov/pfr/consumercredit/complaint.htm for additional information.

Minnesota
System Pay Services, Inc. d/b/a System Pay Services, is committed to combating fraud. If you are located in the State of Minnesota  and believe that your account has been accessed without your authorization, you did not initiate a transaction, are  not the intended recipient of a transmission, or should you have any other questions or concerns regarding System Pay Services,  please contact our customer support at please contact our support team or call +1 (888) 315-0331.

Nevada
If your issue is unresolved by System Pay Services (US), Inc., you may direct your complaint to the Nevada Financial Institutions Division at +1 (702) 486-4120. Please visit https://fid.nv.gov/Resources/Resources/ for additional information.

New Mexico
If your issue is unresolved by System Pay Services (US), Inc., you may direct your complaint to the New Mexico Regulations and Licensing Department, Financial Institutions Division. Please visit https://www.rld.nm.gov/financialinstitutions for additional information.

Oregon
If you are located in the State of Oregon and have a complaint, please first contact our support team. If you still have an unresolved complaint regarding our money transmission activity, you may also direct your complaint to the attention of: Oregon Division of Financial Regulation, P.O. Box 14480, Salem, Oregon 97309-0405; +1 (866) 814-9710 (toll-free in the USA). Please visit: Division of Financial Regulation : Oregon Division of Financial Regulation : State of Oregon for additional information.

Vermont
If your account has a Vermont mailing address, we will not share personal information we collect about you with non-affiliates unless the law allows, or you provide authorization. Written authorizations from Vermont consumers may be delivered to us at the email or mailing address below and must contain your name, address, signature and your consent. You may revoke your consent at any time by contacting our support team or by calling us at +1 (888) 315-0331 or by writing us at:

System Pay Services (US), Inc.
365 Toni Stone Xing, Floor 3
San Francisco, CA 94158

If you have a question or complaint, please contact our support team or call +1 (888) 315-0331.

If you still have unresolved complaint regarding the company’s money transmission activity, please contact the State of Vermont Department of Financial Regulation using the Vermont Consumer Complaint Form: https://dfr.vermont.gov/form/banking-consumer-complaint-form

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System Pay Services partners

Lead Bank is an authorized, Missouri state-chartered bank in the United States with charter number00486773.

Cross River Bank is an authorized, New Jersey state-chartered bank in the United States with FDIC Cert #58410.