We support our UK and Gibraltar Stripe users through our regulated Electronic Money Institution (EMI) in the UK (Stripe Payments United Kingdom Ltd. or “Stripe”).

Stripe is not a bank and, therefore, we do not hold your funds as a deposit to use for our own purposes or to lend to other users.

How does Stripe protect user funds?

To ensure that your funds are safe, we follow a process known as ‘safeguarding’ which is an important regulatory requirement for all EMIs.

This means that we keep sums received from or held for our users in connection with payments processing or the issuing of e-money separate from our own funds. We have detailed processes & procedures around safeguarding. For example, we have established dedicated safeguarding bank accounts with credit institutions.

Is my money covered by the Financial Services Compensation Scheme?

No. As Stripe is an EMI, it isn’t covered by the Financial Services Compensation Scheme. This is an independent scheme which helps eligible customers get their funds returned (up to a certain limit) in the event of a failure of a firm covered by the scheme.

Do I need to take any action?

No action is needed from you. We are publishing this communication to ensure that you understand how we safeguard your funds.

Any other questions?

If you have questions, please get in touch via our contact form.