Skip to main content

How Ascendant Protects
Your Money

AscendantFX UK, Limited (“Ascendant”) is an authorised payment institution (API), regulated by the Financial Conduct Authority (FCA) under the UK Payment Services Regulations 2017.

Unlike a bank, we don’t hold customer deposits. Instead, we protect your money using a process called safeguarding.

What is Safeguarding?

Safeguarding is a legal requirement that ensures your funds are kept safe and separate from our company’s own money.

Here’s how it works:

  • Your funds are placed in a designated safeguarding account with a UK-regulated bank.
  • These funds are kept entirely separate from our operational accounts.
  • They remain protected until they are:
    • Used to complete your payment, or
    • Returned to you.

 

Safeguarding vs. FSCS Protection

You may be familiar with the Financial Services Compensation Scheme (FSCS), which protects bank deposits up to £85,000 per person.

What’s the Difference?

Safeguarding (Ascendant)
  • Required by law for APIs
  • Your money is held in a separate account
  • Timing of payouts depends on processing
  • No cap on protected amount
FSCS (Banks)
  • Provided by government-backed scheme
  • Payout typically within 7 days
  • Compensation paid out from FSCS fund
  • £85,000 cap per person per firm
  • £85,000 cap per company

 

Safeguarding offers strong protection, but it isn’t backed by a government compensation scheme like the FSCS. Instead, it relies on firms strictly following legal requirements designed to keep your money safe. At Ascendant, we fully comply with these rules and are committed to safeguarding your funds under the supervision of the Financial Conduct Authority (FCA).

 

Learn More

Want to understand more about how your money is protected?

FCA: Safeguarding Your Money – Consumer Guide

Search the FCA Financial Services Register – Check Ascendant’s authorisation and regulatory status.

If you have any questions about how your funds are safeguarded, feel free to contact us.

The Latest International Payments Insights

Stay ahead of the curve with news and expert commentary that takes your business forward.

How Credit Unions Can Modernize Payments in 2026

Credit union payment modernization is increasingly about more than adding another digital feature. Members and businesses expect financial services to be accessible, efficient and capable of supporting increasingly complex payment needs. For credit unions, meeting those expectations requires....

How to Reduce DSO: The Fix Most Finance Teams Miss

When Days Sales Outstanding (DSO) starts to climb, slow-paying customers may seem like the obvious cause. But for many finance teams, the issue isn’t when the payment is received. It’s how quickly that payment is matched and applied to the correct invoice. Disconnected remittance information and....

Bessent's Bargain: Bonds Saved, Dollar Sacrificed

August opened with commodity currencies ripping higher and the dollar bleeding out across the board. The final month-to-date chart shows the rally has moderated but the greenback remains on the defensive. The real story broke on August 19, when Treasury Secretary Scott Bessent doubled....

Can We Help Your Business Grow?

If you currently make international business payments with another provider or are planning to expand your business, talk to our experienced team to learn how we could optimize your operations and address your questions.