Volt Safeguarding
Safeguarding: How Volt keeps your money safe
We’re licenced to hold your money and we follow strict rules set by the regulators where we operate. This includes safeguarding rules, which differ from the way that banks typically protect their customers’ funds through deposit insurance schemes, such as the Financial Services Compensation Scheme (FSCS) in the UK and the Bank Guarantee Fund (BGF) in Poland.
Who and what does safeguarding apply to?
Safeguarding applies to funds received into the Volt Accounts that Volt provides to merchants under its EMI licence in the UK and its PI licence in Poland. The funds are held in designated safeguarding accounts, which are provided by credit institutions.
How we safeguard your money depends on the country. Here’s how Volt safeguards funds:
Who regulates Volt?
We follow strict rules set by regulators in the countries where we operate, including the Financial Conduct Authority (FCA) in the UK and the Komisja Nadzoru Finansowego (KNF) in Poland.
How Volt Technologies Limited safeguards customer funds
Safeguarding is a key regulatory requirement for electronic money institutions (EMIs) and payment institutions (PIs) to protect customer funds in the event of insolvency, as set out in the Payment Services Regulations 2017 (PSRs) and the Electronic Money Regulations 2011 (EMRs). It requires firms to protect customer funds through either segregation (placing them in a separate account from Volt’s other funds), or by covering them with an appropriate insurance policy or comparable guarantee.
We safeguard funds through segregation. This means funds are held in a designated safeguarding account with our safeguarding banking partner. Funds are held in cash so that they are highly liquid and available when you need them.
Who regulates Volt?
In the UK, Volt Technologies Limited is an authorised electronic money institution (EMI) under the Electronic Money Regulations 2011 (EMRs) with permission to issue electronic money and provide payment services.
We follow strict rules set by regulators in the countries where we operate, including the Financial Conduct Authority (FCA) in the UK and the Komisja Nadzoru Finansowego (KNF) in Poland.
How Volt Technologies Sp. z.o.o. safeguards customer funds
Safeguarding is a key regulatory requirement for domestic payment institutions (PIs) to protect customer funds in the event of insolvency, as set out in the Polish Act on Payment Services. It requires firms to protect customer funds through either segregation (placing them in a separate account from Volt’s other funds), or by investing them in safe, liquid low-risk assets that are deposited in a designated account.
We safeguard funds through segregation. This means funds are held in a designated safeguarding account with our safeguarding banking provider. Funds are held in cash so that they are highly liquid and available when you need them.
Who regulates Volt?
In Poland, Volt Technologies Sp. z.o.o. is a domestic payments institution (PI) under the Polish Act on Payment Services.
We follow strict rules set by regulators in the countries where we operate, including the Financial Conduct Authority (FCA) in the UK and the Komisja Nadzoru Finansowego (KNF) in Poland.