Tred is registered as with the FCA as an distributer of an 'Electronic Money Institution' (EMI). This means that we protect your funds by a process known as 'safeguarding'
What is safeguarding?
Safeguarding means that customer funds are held in a separate account to other company funds, and they aren't allowed to be to used for any other purpose (eg. investment).
If you want to know more about what this safeguarding protection means, and compare it with other types of protection offered by different types of financial providers, the FCA (Financial Conduct Authority) have written an article about it here.
As we're not a bank, we don't lend out our customers' money to make a profit. This means that your money isn't protected by the Financial Services Compensation Scheme (FSCS). The FSCS is in place specifically for customers of banks, to protect them from losing their money if anything goes wrong with the business of the bank.