Our organization takes great care to protect our clients’ funds through a process known as safeguarding. This process involves segregating 100% of client funds from our own funds, in compliance with UK legislation which offers two safeguarding methods for EMIs. All safeguarded funds are held in a safeguarding account with an authorized bank in the United Kingdom Area, in accordance with regulatory requirements.

Please be advised that the Financial Services Compensation Scheme (FSCS) does not apply to client funds held by EMIs. However, we ensure that client funds are separated from our organization’s funds in a safeguarding account held with an authorized credit institution, and are appropriately identified and managed on a daily basis.

As an EMI, we bear the responsibility of ensuring that our safeguarding arrangements are appropriate and well-managed. In the unlikely event of insolvency, the segregated funds held in the safeguarding account will not be considered our organization’s funds and shall be used to the greatest possible extent for distribution to our clients in a timely and orderly manner.

For further details on the levels of protection offered, please refer to the Financial Conduct Authority (FCA) website by following this link.

Should you require any clarification on the above, please do not hesitate to contact us at support@payine.com or at +44 7342 630972.