What does safeguarding mean?
Funds are safeguarded by our FCA-regulated e-money partners at high-street banks.
Electronic money accounts are not bank accounts and therefore the UK’s Financial Services Compensation Scheme (FSCS) does not apply to your Winvesta MCA. However, we adhere to the legal requirements under the Electronic Money Regulations which are designed to ensure the safety and liquidity of funds deposited in e-money accounts.
The Ethorised credit institution i.e., a bank. This process is called “safeguarding of relevant funds''. This means that your funds must be segregated from the accounts that the EMI uses to run its business and operations.lectronic Money Regulations require EMIs to keep relevant funds segregated from any other funds that it holds by placing them in a separate account with an au
The safeguarding account(s) are held with Barclays Bank PLC. Note that Barclays does not monitor the funds that are placed on the safeguarding account or how the accounts are operated. There is no limit on the amount of cash that can be Safeguarded in the e-money accounts.