Safeguarding Funds
Protection of all of our clients funds is of paramount importance. It is important to note that at no point are ECAP the custodian of client monies.
All funds held in respect to balances, trades or any of the products and services offered by ECAP are held in safeguarded accounts issued by our regulated counter-parties, such as CurrencyCloud, GC Partners, Ebury Partners UK Limited, Equals Connect Limited, iBanFirst Limited and iBanFirst SA.
This means that your funds are held within the custodian banks who work in tandem with our regulated counter-parties but most importantly held separate to their own monies. This means that in the unlikely event of insolvency from the counter-parties used via ECAP to provide services to your facility, your funds will be protected.
Your funds are no longer safeguarded once a payment instruction has cleared the account of the counter-party you have issued instruction through.
Currencycloud: When funds are posted to your Currencycloud account, e-money is issued in exchange for these funds, by an Electronic Money Institution who we work with, called Currencycloud. In line with regulatory requirements, Currencycloud safeguards your funds. This means that the money behind the balance you see in your account is held at a reputable bank, and most importantly, is protected for you in the event of Currencycloud’s, or our, insolvency. Currencycloud stops safeguarding your funds when the money has been paid out of your account to your beneficiary’s account.
All funds held in respect to balances, trades or any of the products and services offered by ECAP are held in safeguarded accounts issued by our regulated counter-parties, such as CurrencyCloud, GC Partners, Ebury Partners UK Limited, Equals Connect Limited, iBanFirst Limited and iBanFirst SA.
This means that your funds are held within the custodian banks who work in tandem with our regulated counter-parties but most importantly held separate to their own monies. This means that in the unlikely event of insolvency from the counter-parties used via ECAP to provide services to your facility, your funds will be protected.
Your funds are no longer safeguarded once a payment instruction has cleared the account of the counter-party you have issued instruction through.
Currencycloud: When funds are posted to your Currencycloud account, e-money is issued in exchange for these funds, by an Electronic Money Institution who we work with, called Currencycloud. In line with regulatory requirements, Currencycloud safeguards your funds. This means that the money behind the balance you see in your account is held at a reputable bank, and most importantly, is protected for you in the event of Currencycloud’s, or our, insolvency. Currencycloud stops safeguarding your funds when the money has been paid out of your account to your beneficiary’s account.