Safeguarding of funds

What safeguarding means

Kresus Technologies SAS is not a bank and does not issue electronic money itself. Payment and e-money services offered through Kresus Pay and Kresus Purchase are provided by regulated Electronic Money Institutions (EMIs) that we partner with. These partners are legally required to safeguard the funds credited to your account.

Safeguarding means the money behind the balance shown in your account is kept separate from the partner's own funds, held either at a reputable bank or covered by an insurance policy. In the event of the insolvency of one of our partner institutions — or of Kresus itself — those funds are protected and can be returned to you.

Official statement

When funds are posted to your account, in line with regulatory requirements, the regulated payments and/or e-money institutions we work with safeguard your funds. This means that the funds shown in your payment account or e-wallet are held at reputable banks or covered by an insurance policy, and most importantly, are protected for you in the event of our partner payments and/or e-money institutions', or our, insolvency. Our partners stop safeguarding your funds when the money has been paid out of your account to your beneficiary's account.

If you require a breakdown of the exact amounts of funds you have safeguarded at each of our payments and/or e-money partners at a particular point in time, please do not hesitate to contact us.

Our regulated partners

Depending on the service and the region where the end-client is located, funds are safeguarded by one of the following partners:

What safeguarding is not

It is important to understand that safeguarding is different from a deposit-guarantee scheme:

• Funds held in your Kresus account are not covered by the UK Financial Services Compensation Scheme (FSCS), the French Fonds de Garantie des Dépôts et de Résolution (FGDR), the Dutch Deposit Guarantee Scheme (DGS), or any equivalent deposit-insurance scheme — because these schemes only apply to banks, not to Electronic Money Institutions.
• Safeguarding does not pay interest on your balance.
• Safeguarding stops the moment funds are paid out of your account to a beneficiary's account.

What safeguarding does provide is a legally-enforced ring-fencing of your money, so that in the unlikely event of insolvency of one of our partners or of Kresus, those funds are returned to you rather than distributed to general creditors.

Requesting a breakdown of safeguarded funds

If you would like a breakdown of exactly how much of your balance is safeguarded at each of our payments and/or e-money partners at a specific point in time, please contact us at contact@getkresus.com. We will respond within a reasonable timeframe.

Questions or concerns

If you have any question about how your funds are protected, or if you believe your funds have not been correctly safeguarded, please contact us:

You can also raise a formal complaint through our Complaints procedure.