Like banks, we’re regulated by the FCA to protect your money, but the way we protect you is different.
Banks are covered by FSCS, which protects a maximum of £85,000 per person.
As an Electronic Money Institution (EMI) we’re covered by a system called safeguarding which has no upper limit, so it’s designed to protect all the money you hold with us.
How we safeguard your money
With safeguarding, your money is kept in separate bank accounts to the money we use to run our business. This means that, if the unthinkable happened and we went out of business, you’re likely to get most (if not all) of your money back. (In the insolvency process customers are first in line.)
But don’t worry – we’re in great shape.
We have the highest credit rating from Dun and Bradstreet (level 1).
Trusted by over 425,000 clients.
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