Important information about how your funds are protected, how to raise a complaint, and who to contact if you need help.
When funds are credited to your account, electronic money (e-money) is issued in exchange by an authorised Electronic Money Institution with whom we partner, namely Currencycloud. In accordance with applicable regulatory requirements, Currencycloud safeguards your funds. This means that the monetary value behind your account balance is held at a reputable financial institution and is protected in the event of insolvency of either Currencycloud or ourselves.
Currencycloud ceases safeguarding your funds once the money has been successfully transferred from your account to the intended beneficiary's account.
Safeguarding is a regulatory requirement under the Electronic Money Regulations 2011. It means that the funds you hold in your Crescit Pay account are kept separate from the operational funds of both Crescit Pay and Currencycloud. In the unlikely event that either company became insolvent, your funds would be protected and returned to you.
Your funds are safeguarded by The Currency Cloud Limited, which is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199). Currencycloud holds your funds at reputable financial institutions approved for this purpose.
Safeguarding applies from the moment funds are credited to your account until they are successfully transferred to your intended beneficiary. Once a payment has been completed and received by the beneficiary, safeguarding obligations in respect of those funds cease.
When you exchange currency through the platform, safeguarding continues to apply to the value of your position throughout the conversion process. You remain protected until settlement is complete.
We are your first port of call for any queries or concerns, including complaints. We will handle these complaints in line with our complaints process. We work with Currencycloud, who ultimately provides you with regulated payments and e-money services.
Currencycloud has certain obligations as a regulated financial services institution, including around complaints. We keep them informed of the complaints we receive from you regarding the regulated payments and e-money services they ultimately provide to you. They oversee how we handle complaints to ensure we do this to the standard required under the regulations.
However, if for any reason your complaint regarding your payments and e-money services has not been acknowledged or dealt with by us, or if you have concerns about the way it has been handled, Currencycloud's complaints information can be found here.
You can submit a complaint to us through any of the following channels. Please include as much detail as possible — including your account information, the nature of your complaint, and any relevant dates or transaction references.
If you are dissatisfied with our response, or if we have not resolved your complaint within the timeframes above, you have the right to refer your complaint to the Financial Ombudsman Service (FOS) free of charge.
The Financial Ombudsman Service is an independent body that arbitrates on complaints about financial services firms. You must refer your complaint to the FOS within six months of receiving our final response.
Financial Ombudsman Service
Exchange Tower, London, E14 9SR
Phone: 0800 023 4567 (free from UK landlines and mobiles)
Website: www.financial-ombudsman.org.uk
Email: complaint.info@financial-ombudsman.org.uk
Crescit Pay Ltd is registered in England and Wales, company number 17099549. Registered address: 167–169 Great Portland Street, London W1W 5PF.
All payment services are carried out by entities regulated to carry out such services in their jurisdictions.
Payment and e-money services are provided by The Currency Cloud Limited. Registered in England No. 06323311. Registered Office: 1 Sheldon Square, London, W2 6TT, United Kingdom.
The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199).
Crescit Pay Ltd's Payment and Foreign Currency Exchange Services are provided by Ebury Partners UK Limited. Crescit Pay Ltd is partnered with Ebury Partners UK Limited as a Programme Manager. Ebury Partners UK Limited is authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution (Financial Services Register No. 900797). Ebury Partners UK Limited is registered with the Information Commissioner's Office, with registration number: ZA345828.
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