Safeguarding the money (Upsides) we receive from you

Your Upsides are kept in a “Safeguarded Account” with our Electronic Money Institution (EMI) partner, PayrNet (Terms and Conditions)
This means that your money is kept in your own name and separate bank account(s) belonging to the EMI, which are separate from our own office bank accounts

From a regulatory perspective, and unlike your bank, we cannot and will not use the funds to invest or lend to other persons or entities

Please note:

Your Upsides (e-Money) will not accrue interest; and
it is not covered by the Financial Services Compensation Scheme (FSCS)

If Upside ceases to trade, or becomes insolvent, the E-Money Provider will arrange for the redemption of the funds in your Upside Account. If the E-Money Provider ceases to trade, or becomes insolvent, Upside will make claims for the redemption of your funds on your behalf.

You can read more about this in our Upside Terms and Conditions and Privacy Policy
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