Is my money safe?
HUBFX holds the equivalent of the e-money we create for our members in what we call a Safeguarding account with Barclays Bank. This is a ring-fenced account that can only hold funds for our members e-money relating to our International Currency Accounts feature. No other funds such as fees, HUBFX’s own funds, or any other companies’ funds are allowed in it.
Moreover, the funds in this account can never be loaned out by the credit institutions to other customers and, as such, are not exposed to risk. Because your funds will never be reinvested, they don’t require FSCS protection (which is only required where credit institutions reinvest and take risks with your money).
Why Barclays Bank?
We have carefully selected the credit institution that will hold these funds based on a thorough analysis of their financial reports and any adverse media. We regularly review our choices and have accounts in different credit institutions should the financial risks increase at Barclays Bank.
Accounts and Payment Services in HUBFX and HUBPYWALLET are powered by Hubpy Services*
UNITED KINGDOM
The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 and the Payment Services Regulations for issuing of electronic money and the provision of payment services with FCA registration number 900199.
