Safeguarding Accounts, also known as Segregated Bank Accounts or Designated Client Account, are often sought by payment services companies under the Payment Services Regulations 2017 (PSRs) or sometimes called the Payment Services Directive 2 (PSD2). These companies have to ensure certain criteria are met under the FCA e-money rules and there are certain client bank account rules to adhere to.
These accounts, following Brexit at the end of 2020, were subject to a number of queries, however, when it comes to e-money, the FC have stated that as long as the EU institution is registered and approved by the country’s regulators, it is acceptable to use the EU Bank Accounts or Safeguarded/Segregated Bank Accounts.
We have special arrangements with bank providers at exceptional rates for these accounts and will provide our clients with full details.
We can also prepare and collate your PSD2 (Approved Payment or Electronic Money Intuition) FCA Authorisation Application and help you apply for authorisation at a fixed cost.
Contact us for details firstname.lastname@example.org
or call 0800 689 0190
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