ExePay Limited is a UK-based Electronic Money Institution (EMI), authorised and regulated by the Financial Conduct Authority (FCA) under the Electronic Money Regulations 2011. As part of our regulatory obligations, we protect customer funds through a process known as safeguarding. This involves holding 100% of your funds in segregated accounts, completely separate from our own operational funds. This ensures that, in the unlikely event of our insolvency, your funds remain safe and available for full repayment.
One of our key priorities at ExePay Limited is to ensure that our customers clearly understand the nature of the financial protections in place. Please note that funds held with EMIs are not covered by the Financial Services Compensation Scheme (FSCS). The FSCS applies to banks and building societies, where customer funds may be used for lending or investment, and the scheme offers compensation of up to £85,000 per eligible individual in the event of institutional failure. In contrast, ExePay Limited is not permitted to lend or invest customer funds. All customer money is held in designated safeguarded accounts with reputable financial institutions, in compliance with FCA requirements. This means your funds are not exposed to business risks and are always available for repayment, without the need for FSCS coverage.
To ensure compliance and transparency, ExePay Limited conducts regular audits of its safeguarding practices through independent auditors. These reviews confirm that our safeguarding arrangements remain effective and fully aligned with FCA regulations. Should ExePay Limited ever become unable to meet its safeguarding obligations, we are legally required to report this to the FCA without delay. For more information on safeguarding and the regulatory protections in place, please refer to the FCA’s website.
If you have any questions or require further clarification, please contact us at info@exepay.co.uk.