The funds you hold on account with us at WTUK Limited are held in line with the regulations set out by the FCA. All funds are held in safeguarded accounts held with reputable credit institutions in line with the Electronic Money Regulations 2011 and the Payment Services Regulation 2017. As your funds are safeguarded, FSCS protection does not apply as it would with a traditional bank.

Your funds are safely segregated from the company trading funds, this therefore means no third-party obligations can be covered from your funds in the unlikely event the E-Money institution goes out of business. Should this situation arise then a small amount of your account balance may be deducted to cover the administrator’s costs in getting your money back to you.

Got any questions? Please do contact a member of the team and they will be happy to answer any questions you may have, or head to the FCA’s website to find out more about the differences between banks and E-Money firms.