Here you may find a valuable information about how we protect your money hold with
Please read the information carefully and do not hesitate to contact us if any question
Monetley LTD is a non-banking payment provider authorized to issue electronic
money and provide unrelated payment services to its customers. We are an Electronic
Money Institution (EMD) authorized by the Financial Conduct Authority (FCA) of the
English laws are applicable to our business activity, our relations with the customers
and our responsibility to the customers and the FCA. One of our legal obligation is to
protect your money and keep it safe.
In common case, when you held money with the bank, your money is under the
Financial Services Compensation Scheme (FSCS) of the United Kingdom protection
and are refundable in accordance to the FSCS rules (https://www.fscs.org.uk/).
It is important to understand, that Monetley LTD is not a bank and your money hold
with us is not protected by the Financial Services Compensation Scheme of the
United Kingdom. In particular case, your money is protected by Monetley LTD itself.
In case Monetley LTD fails, to get you money back you will have to contact the
receiver, i.e. liquidator or administrator appointed to manage the closure of failed
company and responsible for money refunds to the customers.
Please remember, that refunds may take longer than if it were a bank, and some fair
costs for money return may be taken by the receiver of the failed company. These costs
are not set by Monetley LTD, and the amount of such costs is set solely at failed
company receiver’s discretion.
We always take adequate measures to ensure that in case Monetley LTD fails, your
money will be paid out in a timely and orderly manner. Your claim to pay money back
will be paid from the safeguarding account. Such safeguarding account is protected by
English law from other creditors’ claims and in any case customers’ money from
safeguarding account shall be paid out first.
We deposit your money in a safeguarding account we held with an authorized credit
institution – currently the Bank of Lithuania (European Union), which is a member of
theEuropean System of Central Banks (https://www.lb.lt/en/). We keep sufficient
portion of money to satisfy all customers claim for the money owed.
We guarantee that all customers’ money is strictly segregated from Monetley LTD own
funds and proceeds.
We safeguard your money regardless of its amount or country, or origin/destination by
the means of segregating, hereby keeping it separate from other asset and all other
sources of funds of Monetley LTD.
Our safeguarding obligations shall start immediately when Monetley LTD receives
money from you and shall remain in full force and effect until money is held with us
and shall end when the money is paid out to the payer or payee, including funds
transfer to another electronic money institution or payment service provider.
Monetley LTD defines protection of your money as a cornerstone task and we
properly and adequately manage your money on a day-to-day basis.
We provide overall control over the implementation of safeguarding requirements
that apply to us, our employees, agents and distributors. We apply sufficient
organizational measures to effectively manage the risks that may arise from
negligence or poor administration, as well as, fraud and misuse. For these purposes
Monetley LTD provides regular safeguarding risk monitoring, as well as regularly
revises safeguarding issues and providing its update on an ongoing basis.
With the aim to effectively manage safeguarding measures and protect customers’
money, we have established the Safeguarding Policy in strict compliance with
Electronic Money Regulations 2011 (EMRs) and Payment Services Regulations 2017
(PSRs), as well as, best practice recognized common standards.
If you are not satisfied with the services we provide, you can contact the Financial
Ombudsmen Service of the United Kingdom (https://www.financial-
ombudsman.org.uk/, email@example.com, 0800 023 4567).
In case of any questions or any luck of understanding regarding funds held with
compensation mechanisms, please do not hesitate to contact us by sending your
questions to our support team – firstname.lastname@example.org. Monetley LTD highly
professional compliance and legal team will provide you explicit and comprehensive
explanations regarding customers’ funds compensation issues.
You may also get acquainted with the FCA regulatory requirements regarding FCA
authorized firms safeguarding obligations: https://www.fca.org.uk/firms/emi-payment-