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What is e-money?

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.

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