Your security. Our priority.
The security of your funds is of paramount importance to us.
As a company authorised by the Financial Conduct Authority, we adopt special processes and cybersecurity tools to ensure your money is protected at all times.
How is my money protected?
- Privalgo is regulated and authorised by the FCA. And we adhere to its rules and regulations at all times.
- Among other things, this means your money is kept in a segregated account from the firm’s money. Should Privalgo cease trading, your security of funds is guaranteed.
- In addition to this, we are audited annually by a highly respected city accountancy firm to make sure there is never room for error in how we safeguard your funds.
Is Privalgo a bank?
- We are an Electronic Money Institution, which means we are not a bank.
- For you, this means your money is not protected by the Financial Services Compensation Scheme (FSCS), as it would be in a private UK bank account. FSCS protection is limited to the first £85,000 per person.
- Equipped with the latest cybersecurity measures, we endeavour to safeguard you from online threats.
- Think end-to-end encryption of our infrastructure, threat monitoring and anti-fraud systems.
Strong customer authentication
- We implement Strong Customer Authentication (SCA) across our systems under the latest Payment Services Directive.
- This includes two-step authentication, whereby you use an authenticator app (we recommend Authy) when registering, signing in and making transactions.
- We do this to certify that you are you, prevent online fraud, and ensure that your funds and data are always protected.