We are authorised by the Financial Conduct Authority (FCA) as an electronic money institution,
which means we must treat your money in a certain way.
When we receive your money into the cash hub, we’ll immediately issue your Active Savings
Account with the same amount of electronic money (e-money) so you can put it into a savings
product or withdraw it.
E-money is simply an electronic monetary value, equal to your money held in the cash hub, which
we are authorised by the FCA to hold on your behalf.