In accordance with our obligations under the Payment Services Regulations 2017, Breinrock UK Ltd ensures that all customer funds are safeguarded.
This means your funds are kept separate from Breinrock UK's own operational funds and are held in a designated safeguarding account with a UK-authorised credit institution (currently ClearBank Ltd).
These funds are not used for any other purpose and are protected in the unlikely event of our insolvency.
Please note:
Your funds are not protected by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme.
However, under safeguarding rules, your funds are legally protected and should be returned to you (less any applicable insolvency administration costs) in the event of Breinrock UK's insolvency.