Safeguarding customer funds

As a compliance professional in a payment or e-money institution, you want to ensure your customer funds are protected and make sure that, if you became insolvent, your customers’ payment instruction would be fulfilled or their funds returned to them.

We assist with queries such as what funds are relevant, when the obligation begins and ends and when reconciliation should happen.

Who does it apply to?

All authorised payment institutions (APIs), e-money institutions and small e-money institutions must safeguard client funds at the point of receipt. Small payment institutions may choose whether or not to safeguard but are encouraged to do so by the FCA. 

How can we help? 

You can benefit from our 10 years’ experience of assisting firms with their safeguarding arrangements. We provide a range of safeguarding services.

Safeguarding services

• Safeguarding audit 
• Safeguarding policy and procedures
• Safeguarding training

Through ongoing contributions to the FCA and trade bodies, we have been instrumental in the development of the sector’s understanding of their safeguarding obligations.

If you would like to discuss your safeguarding arrangements in full confidence with the leading experts in the UK, contact us today for a free initial consultation.