Ensuring our clients funds are held safely and securely is of paramount importance.
When funds are posted to your account, e-money is issued in exchange for these funds, by an Electronic Money Institution who we work with, called Currencycloud. In line with regulatory requirements, Currencycloud safeguards your funds. This means that the money behind the balance you see in your account is held at a reputable bank and, most importantly, is protected for you in the unlikely event of Currencycloud’s, or our insolvency. Currencycloud stops safeguarding your funds when the money has been paid out of your account to your beneficiary’s account.
In 2021, Currencycloud was acquired by Visa Inc. By choosing Currencycloud as our e-money provider, we have peace of mind knowing that they are backed by one of the world’s largest capitalised financial institutions.