As an FCA authorised electronic money institution it is our responsibility to segregate your funds. Where we are required to segregate your funds, we do so by placing the funds in a segregated account (known as a ‘safeguarding account’) with our credit institution.

As an FCA-authorised payment institution, funds held with us are not covered by the FSCS. Instead, we segregate your funds in a safeguarding account, which means those funds would be separated from our other assets in the event of our insolvency and used to repay you and other clients. Our credit institution provides us with safeguarding accounts but does not monitor the funds we place on the safeguarding account or how we operate these accounts.