Absolutely. All funds held with Altery are protected by the Financial Conduct Authority (FCA) safeguarding requirements, which Altery follows as an authorised Electronic Money Institution (EMI). This involves the allocation of your funds to a range of customer funds bank accounts, known as ‘safeguarded accounts’, which are held with reputable banking institutions within the list of countries authorised by the FCA.

Here are some points about safeguarding:

• Safeguarding customer funds is a key consumer protection measure within the Electronic Money Regulations 2011 (EMRs) and Payment Services Regulations 2017 (PSRs). 
• As an authorised Electronic Money Institution (EMI), Altery must comply with the FCA safeguarding requirements to ensure that, if a firm becomes insolvent, customer funds are returned in full, in a timely and orderly way.
• We’re required by regulation to safeguard funds we receive in exchange for the e-money we issue. This obligation starts immediately upon receipt of funds.
• The general principle is that the safeguarding obligation remains in place until the funds are no longer held by the institution. In practice, this means the institution should generally continue to safeguard the funds until they are paid out to the payee or the payee’s Payment Service Provider (PSP).

Please feel free to contact us if anything is unclear or if you have any questions about the protection of your funds.