Safeguarding

Mangopay UK is a regulated entity dedicated to protecting your funds. We ensure your money is secure by segregating it from our own operational funds and holding it in designated accounts with leading UK banks, in full compliance with the Electronic Money Regulations (2011) and the Payment Service Regulations (2017).

Your funds are protected from the moment we receive them until you initiate a payment from your e-wallet. These safeguarded funds are strictly protected from misappropriation and remain inaccessible to our creditors, banks, or any third parties.

In the unlikely event of insolvency, your funds stay separate and are prioritized for distribution to you over other creditors. Please note that an independent insolvency practitioner may deduct a standard fee from customer funds before distribution.

Is there a limit to how much of my funds are protected?

There are no limits or lower/upper caps. Unlike banks that protect up to £120,000 under FSCS, your funds are covered in full by safeguarding protections

Are my funds protected under the FSCS (Financial Services Compensation Scheme)? 

Because Mangopay UK is an e-money institution rather than a bank, your funds are protected through robust safeguarding controls rather than the Financial Services Compensation Scheme (FSCS).

Do I need a business account to benefit from protections? 

Regardless of the type of customer you are, business or individual, safeguarding is designed to protect your funds, and the measures taken are the same.  Your funds are in a secure and segregated account.

How is Mangopay UK regulated? 

Mangopay U.K. Limited is an Electronic Money Institution (EMI) authorized and regulated by the Financial Conduct Authority (FCA). You can view our license details here. The FCA mandates strict safeguarding standards and requires us to undergo regular independent audits of these controls.

Is there any action I need to take to ensure my funds are protected?  

No action is required on your part. We provide this information for transparency so you can feel confident in how we protect your money. For more details, you can read the FCA's guide on safeguarding here or contact us via the dashboard.