When you add money to a deposit account, it’s held by that bank or building society. Eligible deposits are protected up to £85,000 per banking licence.
Visit the FSCS website for more information - www.fscs.org.uk

We employ industry-leading practices and technologies to keep your personal information and account data secure at all times. This includes using Secure Sockets Layer (SSL) and Transport Layer Security (TLS) technologies to establish a robust connection for all communications with our platform.

Money with The Deposit Service which isn’t in a deposit account is held in the custodian account. Money in the custodian account is kept separate from our own company money in a safeguarded e-money account with ClearBank. As we are not a bank, this money is either protected through the FCA’s safeguarding rules if we were to fail, or the FSCS, if Clear Bank were to fail.

All our deposit takers are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority and are covered by the Financial Services Compensation Scheme (FSCS).