When funds are posted to your account, e-money is issued in exchange for these funds, by an Electronic Money Institution who we work with. In line with regulatory requirements, the e-money Firm 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 the e-money Firm, or our, insolvency. We stop safeguarding your funds when the money has been paid out of your account to your beneficiary’s account.