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Volt Safeguarding

Safeguarding: How Volt keeps your money safe

Volt is licensed to hold customer funds and complies with strict safeguarding rules set by the regulators in the countries where we operate. These safeguarding arrangements are different from the deposit protection schemes used by banks, such as the Financial Services Compensation Scheme (FSCS) in the UK or the Bank Guarantee Fund (BGF) in Poland.

Safeguarding is designed to protect customer funds in the event of Volt’s insolvency by ensuring those funds are kept separate from the company’s own money.

Who and what does safeguarding apply to?

Safeguarding applies to funds received into Volt Accounts that we provide to merchants under:

  • our Electronic Money Institution (EMI) licence in the UK; and
  • our Payment Institution (PI) licence in Poland.

Customer funds are held in designated safeguarding accounts with authorised credit institutions.

How we safeguard your money

The way funds are safeguarded depends on the country in which the relevant Volt entity is regulated.

UK customer funds
Volt Technologies Limited 

Safeguarding is a key regulatory requirement for electronic money institutions under the Electronic Money Regulations 2011 (EMRs) and the Payment Services Regulations 2017 (PSRs).

Volt Technologies Limited safeguards customer funds through segregation. This means customer funds are:

  • held separately from Volt’s own funds; and
  • placed in designated safeguarding accounts with a safeguarding banking partner.

Funds are held in cash to ensure they are highly liquid and readily available to customers when required.

For more information please visit the FCA website here.

Regulation 

In the UK, Volt Technologies Limited is authorised and regulated by the Financial Conduct Authority (FCA) as an electronic money institution under the Electronic Money Regulations 2011.

EEA customer funds (Poland)
Volt Technologies spółka z ograniczoną odpowiedzialnością 

Safeguarding is a key regulatory requirement for payment institutions under the Polish Act on Payment Services.

Volt Technologies Sp.z.o.o. safeguards customer funds through segregation. This means customer funds are:

  • held separately from Volt’s own funds; and
  • placed in designated safeguarding accounts with a safeguarding banking provider.

Funds are held in cash so that they remain highly liquid and available when needed.

Regulation

In Poland, Volt Technologies Sp. z o.o. is a domestic payment institution regulated by the Komisja Nadzoru Finansowego (KNF).

Important information about safeguarding

Safeguarding is not the same as deposit protection. Customer funds held with Volt are not covered by deposit guarantee schemes such as the Financial Services Compensation Scheme in the UK or the Bank Guarantee Fund in Poland.

Safeguarding is intended to ensure that customer funds are protected and kept separate if Volt were to become insolvent. This means that, if we were to go out of business, customers should receive most of their safeguarded funds back. However, the process of returning funds may take some time, and in some circumstances it may not be possible to return the full amount, for example if costs are deducted by an administrator or liquidator.