Safeguarding accounts
At ValutaPartners, we understand how crucial the safety of your money is. That’s why we’ve joined forces with Currencycloud, a licensed Electronic Money Institution, to ensure that your money is always kept safe.
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Currencycloud, as an Electronic Money Institution, is responsible for receiving and managing customer funds, and also facilitates currency conversions and outgoing payments.Â
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Regardless of whether the funds are intended for conversion or payment, any amount of money held on behalf of a customer is safeguarded and protected. This safeguarding system stands in stark contrast to a regular bank account, where your money may not always be fully protected.
E-money
When funds are posted to your account, e-money is issued in exchange for these funds, by an Electronic Money Institution who we work with, called Currencycloud. In line with regulatory requirements, Currencycloud safeguards your funds.
This means that the money behind the balance you see in your account is held at a reputable bank, and most importantly, is protected for you in the event of Currencycloud’s, or our, insolvency. Currencycloud stops safeguarding your funds when the money has been paid out of your account to your beneficiary’s account.