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Q & A

  1. What are the benefits joining UKEX through HD Life Group Limited?

Free Beta accounts for all and FREE debit card for students.


   2. What are the differences between beta account and applied debit card?

UKEX Beta account can be used on UKEX Pay App or website. The debit card can be used worldwide wherever Visa is accepted. It can be used online, in shops, over the phone or to withdraw cash from ATM.


   3. What are the benefits for students?

Students can open debit card for free and received rewards through our referral scheme (inviting friends to join UKEX Pay)


   4. What is KYC and OTC meaning?

KYC or know your customer is what business do to verify the identity of their clients in order to ensure that they are not involved in corruption, bribery and money laundering.

OTC or over-the-counter means that transactions take place on a broker-dealer network instead of a centralised exchange.


   5. Can you do the KYC in other countries outside the UK for example China?


   6. What identification do we accept for KYC and How to register? (Add on instruction video in the end)

We accept passport, driving licence and National ID( currently not support Chinese Residence ID card)


   7. When will OTC function available for People who verify their KYC using other countries identification other than China?

Will update soon.


   8. What are BTC, ETH and USDT? How is it related to my currency exchange process?



USDT is a stable coin whose circulation value is almost equivalent[JW1]  to USD. If you have x amount of USDT, you can exchange or withdraw it as the approximately same[JW2]  amount of USD.


   9. What is the differences between BTC, ETH and USDT? Why choosing USDT?

USDT is a stable coin whose value is very similar to fiat currency USD. Which means that using USDT is of low risk.


   10. Is it safe to use UKEX services? Why is it safe?


UKDE, the company that developed UKEX Pay is regulated and authorised by FCA. UKDE has been granted EMD licence and treats its customers’ fund with the highest standard.


   11. How do you proceed currency exchange services in apps? (Add on instruction video in the end)



   12. Available currency?

We accept major fiat currencies like Euro, GBP, and USD

We accept major crypto currencies like BTC, ETH, USDT, GBP*, EUR*, USD*



   13. Any charges on beta account and debit card services? Withdraw on cash machine etc



Please refer to our web page for detailed fee structure.


   14. What happens if I over limit?

For deposit and withdrawal, when over limit, you can re-enter a smaller amount according to the notification;

For purchases, the transaction won’t be completed if the amount exceeds your balance. (if the amount exceeds the debit card balance but there’s more fund on the account, the extra amount will be covered by the account balance, and vice versa)


   15. How do you calculate the exchange rate?

The exchange rate between GBP and USDT approximately equals to the exchange rate between GBP and USD.The exact rate is dependent on the market.

USDT to RMB is dependent on the market price.


   16. Can you transfer money through the apps? Can you transfer money to other people bank account through the apps?

Yes, you can transfer fund to other UKEX Pay users on our app. The recipient can withdraw the fund to their other bank account.


   17. How long does the currency exchange process take to receive your money?

The exchange process happens immediately.


   18. How do I contact customers services? (Add customer services available hours)

You can contact customer service on UKEX Pay App through “help” button.

You can find answers to frequent questions on the app, or reach out to our customer service via live chat or email[JW3] .

FAQ can be found here https://ukexpay.zendesk.com/hc/en-gb/categories/360001448140-Help-Center


   19. What are the restrictions for withdraw money?

GBP* Wallet

Daily outbound limit: £20,000;

Cumulative outbound limit: £100,000