At Sendwave, it’s important to us that your money is kept safe while it is in our custody - which is usually only for a very short amount of time because most of our transactions pay out quickly. On the rare occasions that it takes longer for your money to reach your beneficiary, we keep your money in a special account that only holds our customers’ money. If anything should happen to Sendwave while we hold your money, that money is safe in the special account. However, please note that Sendwave is not registered as a bank so this money does not benefit from depositor FSCS protection like UK bank deposits, which means:
> it may take a little longer to get your money back and
> you may get back less than you gave us if the account pays for administrators’ fees.