Safeguarding Customer Funds

At SumUp, keeping your money safe is our top priority. We use approved safeguarding methods to keep your funds separate from our own, so you can feel confident your money is secure—even if something unexpected were to happen to us.

So, how does it work?

Whenever you take a payment from a customer, add money to your account, or send and receive transfers using Faster Payments, your money is kept in a separate segregated account, compliant with safeguarding regulations issued by the FCA. 

Any fees owed to us for the services we provide are deducted daily. We do not hold or mix your funds overnight with any fees owed to us.

Where does SumUp hold my funds?

We work with a number of trusted banks in the UK to hold your funds. Each bank is carefully vetted to make sure your money stays safe at all times.

We also regularly review our banking arrangements to ensure we continue providing the highest level of security for your funds.

Does SumUp use any other methods for Safeguarding?

Yes. In addition to segregating client funds in safeguarding accounts, we also maintain an insurance policy as an additional safeguarding measure to help ensure client obligations are fully protected.

What happens if SumUp fails?

In the unlikely event that SumUp were to go out of business while holding your money, an independent insolvency practitioner (the person hired to return the money to you) would be appointed to return your funds to you. Your funds are separate from the funds of SumUp and therefore the creditors of SumUp (other third parties that are owed money from SumUp) are not able to make a claim or have effect on your funds.

This means you would get your money back, although some costs may be deducted by the insolvency practitioner for distributing the money back to you. This is the only deduction permitted by law.

This process can take longer than claims made through the Financial Services Compensation Scheme (FSCS). While you should receive your money back, there may be delays before it is returned to you.

Does the FSCS apply to funds held by SumUp?

Safeguarding protection works a little differently from how banks in the UK protect money through the Financial Services Compensation Scheme (FSCS).

SumUp isn’t a bank—we’re a regulated payment and e-money institution. This means FSCS protection doesn’t apply to the services we provide, but your funds are still carefully safeguarded from SumUp’s own funds and kept secure.

What if I have a complaint?

If you have a complaint about our services, please contact SumUp first so we can try to resolve the issue for you.

If you are not satisfied with our final response, you may be able to refer your complaint to the Financial Ombudsman Service (FOS), depending on the nature of your complaint and your eligibility.

How to get more information?

Understanding how your money is protected can give you peace of mind—and we’re here to keep things clear and straightforward.

You may find these resources useful:

1. Visit the Financial Conduct Authority (FCA) websiteOpens in new window to learn more about using payment service providers.

2. To check how a particular company protects your money, search the Financial Services RegisterOpens in new window. It shows which firms are regulated by the FCA, the type of licence they have, and how they safeguard customer funds.