Safeguarding Customer Funds

Keeping your money secure

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, your money is kept in a separate segregated account in line with safeguarding requirements under Irish law and the regulatory framework overseen by the Central Bank of Ireland (CBI). 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 financial institutions in Ireland and across the EEA to hold your funds. Each institution is carefully vetted to help make sure your money stays safe at all times.

We also regularly review our banking arrangements to ensure we continue providing a high 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 may also use other safeguarding measures where appropriate and permitted under applicable law to help ensure client obligations are protected.

What happens if SumUp fails?

In the unlikely event that SumUp were to go out of business while holding your money, your safeguarded funds would remain separate from SumUp’s own money. This means that SumUp’s creditors would not have a claim over those safeguarded funds.

An insolvency practitioner or other appointed administrator would be responsible for returning your funds to you in accordance with applicable insolvency and safeguarding rules. While you should receive your money back, some costs of distributing the funds may be deducted where permitted by law. The process may also take some time.

Does the Irish Deposit Guarantee Scheme apply to funds held by SumUp?

Safeguarding protection works differently from the protection available for deposits placed with banks and certain other deposit-taking institutions under the Irish Deposit Guarantee Scheme (DGS).

SumUp is not a bank. We are a regulated payment and/or e-money institution. This means the Deposit Guarantee Scheme does not apply to the services we provide. Instead, your funds are safeguarded by being kept separate from SumUp’s own funds in accordance with applicable legal and regulatory requirements.

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 Services and Pensions Ombudsman (FSPO) in Ireland, 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: