Merchant Services Safeguarding

Safeguarding of Customer Funds

Worldline Merchant Services UK Limited is an authorised payment institution regulated by the Financial Conduct Authority (FCA) under the Payment Services Regulations 2017 (firm reference number 978429). We adhere to strict safeguarding requirements to protect customer funds.

  1. Non-applicability of the Financial Services Compensation Scheme (FSCS): Please be advised that your funds are not protected by the FSCS. As an FCA-authorised payment institution, we are not covered by this Scheme, which means that in the event of our insolvency, FSCS compensation will not be available.

  2. Safeguarding Under FCA Regulations: Instead, we protect your funds by following the FCA’s safeguarding rules. We segregate customer money from our corporate funds by holding them in dedicated client accounts at reputable financial institutions. This segregation ensures that, should we become insolvent, your funds are protected from our creditors and can be promptly returned to you.

  3. Acknowledgement of Safeguarding Limits: It is important to recognise that FCA safeguarding rules are designed to protect your funds by keeping them separate from our own assets. However, these rules do not guarantee a compensation level equivalent to that of the FSCS, and there is no absolute guarantee that all funds will be recoverable. You should consider this risk when deciding to maintain balances with us.

  4. Queries and Further Information: Should you have any questions regarding how we safeguard your funds or wish to understand more about the non-applicability of the FSCS, please do not hesitate to contact our customer support team.

By agreeing to our terms and conditions, you acknowledge your understanding of how your funds are protected and the limitations of this protection.