The way we're set up to keep your money safe means that we don't require coverage by the FSCS, as we're not a bank. Instead, we are registered with the FCA as an 'Electronic Money Directive' (EMD) agent with a company called Nium Fintech Limited (read more about them here). Nium safeguard your money on our behalf, making sure it is held safely in a ringfenced account 🔒
In the unlikely event that Tred becomes insolvent, our safeguarding arrangements protect 100% of your funds with no cap, unlike FSCS protection which only protects deposits of up to £85,000.
So, as your money is 100% safeguarded, Tred customers don't require FSCS protection.