Fund Safeguards UK

Account Type : An ISX.Money IBAN based account is an electronic money account issued under the Electronic Money Regulations 2011 and Payment Services Regulations 2017 of the United Kingdom (“UK National Legislation”). Electronic money accounts are not bank accounts, even though we issue Basic Bank Account Number (“BBAN”) and International Bank Account Number (“IBAN”) as a means of connecting the ISX.Money IBAN based account to the international banking network by use of a Bank Identifier Code (“BIC”), such as ISEMCY22XXX.

Safeguarding : The UK National Legislation requires that Electronic Money Institutions such as ISX Financial UK Ltd (“the Company” or “ISX”), provide safeguards for its customer’s funds that it holds. Customer funds are safeguarded by being held in segregated accounts separate from those that hold Company funds, and the customer funds are held variously between reputable credit institutions within the United Kingdom.

By accepting the Terms of Use you acknowledge that the United Kingdom’s Financial Services Compensation Scheme does not apply to your ISX.Money IBAN based account. In the unlikely event that the Company becomes insolvent, you may lose the electronic money held in your ISX.Money IBAN based account. However, the UK national legislation apply to us, and these are designed to ensure the safety and liquidity of funds deposited in electronic money accounts by way of segregation of client funds from Company funds.