Security of Funds

FCA authorised e-money issuer


We have been authorised to provide payment services since November 2009 and in January 2015 we upgraded to the status of e-money issuer. We are authorised by the Financial Conduct Authority (FCA) for the issuing of electronic money under the Electronic Money Regulations 2011 [FRN 900204]. This means we comply with the rules on how we conduct our business, treat our customers and ensure that we protect customer funds at all stages throughout the conversion process. The FCA checks that we have enough money on the balance sheet and proper arrangements in place to protect customers’ money in the unlikely event we experience financial difficulty.

Safeguarding your funds


As an authorised e-money issuer we must safeguard customers’ funds by keeping their money separate from our business transactions. We have segregated client accounts that are held at Barclays PLC. All our accounts are full audited by our chartered accountants and independent auditors.

In-house Compliance Team


Our dedicated in-house compliance team ensures that we comply with all FCA regulations. Wr also adheres to a rigorous code of conduct.

2A1 Credit Rating


We hold a 2A1 credit rating from Dun & Bradstreet, the global company ratings agency. This shows both our strong financial strength as well as our extremely low financial risk.

Industry Best Practice


We are active members of both the Association of Foreign Exchange and Payment Companies (AFEP) and the Association of UK Payment Institutions (AUKPI). We work closely with them to develop industry best-practice guidelines for the benefit of our customers.