Important information about ISXMoney®

and flyyk® electronic money accounts

How is your money protected?

ISXMoney® and flyyk® are registered trademarks of ISX Financial UK Ltd (FCA reference 901034) and ISX Financial EU Ltd (FCA reference 900871), collectively ISX. 

ISX Financial UK Ltd and ISX Financial EU Ltd are authorised in the UK by the FCA as Electronic Money Institutions, under the Electronic Money Regulations 2011 and the Payment Services Regulations 2017. ISX is a type of firm known as a non-bank payment service provider, and these regulations determine how payments must be transmitted and the protection provided when you send money. 

Your ISXMoney® and flyyk® e-money accounts store electronic money in exchange for ISX receiving the corresponding funds on your behalf. When electronic money is stored in one of your ISX e-money accounts, the funds are not considered the same as a bank holding money for you, because: 

• ISX must safeguard the funds received, meaning the funds will be protected by being held in a designated safeguarding account and not mixed with any of ISX’s own funds;

• ISX cannot and will not use the funds received, to invest or lend to other persons or entities; 

• Your Electronic Money will not accrue interest; 

• Your Electronic Money is not covered by the Financial Services Compensation Scheme. 

You may wish to consider whether that level of protection is appropriate for your circumstances and the value of funds held in your ISX e-money accounts, on an ongoing basis.

Should you require further impartial information regarding electronic money, please refer to the FCA website.