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Right now it's backed by some prepaid card provider. Once they get a banking license, bank accounts will be protected under government regulations, so afaik as
by kennydude 11y ago
Right now it's backed by some prepaid card provider. Once they get a banking license, bank accounts will be protected under government regulations, so afaik as secure as any other UK bank.
- cmdkeen 11y agoSpecifically UK bank deposits are protected up to £75,000 under the Financial Services Compensation Scheme. If you've got so much money that you have > £75k in a single bank for any length of time (house purchase etc aside) then you have a different order of problems. http://www.fscs.org.uk/what-we-cover/eligibility-rules/compensation-limits/deposit-limits/ http://www.fscs.org.uk/what-we-cover/eligibility-rules/compe...