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.

The FX Paradox – Safe Haven or Structural Shift

The USD has strengthened sharply through the final week of March, with month-to-date gains extending across all G10 currencies. The outbreak of hostilities between the US and Iran on February 28 initially triggered a classic flight-to-safety bid, but the rally has gathered momentum as....

Tariffic Supreme

As we close the books on February, the currency markets have finished the month in a state of stark divergence. The Australian Dollar emerged as the undisputed leader of the G10 complex, surging 2.13% against the Greenback to finish the month at 0.7110. This outperformance was solidified....

Streamline Receivables Operations with FTNI and ETran

Finance teams are under pressure to move faster, reduce errors, and keep up with growing payment volume. Manual posting, disparate systems, and limited visibility make it harder to manage receivables efficiently and confidently..

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.