It’s natural for you to be asking questions around the security of your money. In accordance with Client Money Rules, set out by the Financial Conduct Authority, we hold your money in a segregated account. This means that your money is held separately from our money. And in the unlikely event that we became insolvent, because your money is held separately, it will be returned to you.
For additional security and diversification, we also spread the money we hold for clients across four leading UK banks. These are HSBC, Lloyds, Bank of Scotland and Natwest.
If any of the banks that we use to hold your money were to become insolvent, any money we hold is protected under the Financial Services Compensation Scheme (FSCS). There are a few points to be aware of:
For further information on the definition of a temporary balance, or more general information about the scheme, visit the FSCS website.