Segregated Funds

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Segregation Explained

Segregated client money is held entirely separate from HyperWire's own money, ensuring that in the event of default by HyperWire, client funds will be returned to the clients rather than being treated as a recoverable asset by general creditors.

Client money is 'ring-fenced' in separate bank accounts which are held in trust with our clients as the beneficiaries, and is never mixed with HyperWire's own funds.

Which Banks?

We hold Client funds for transfer in segregated accounts across a range of major banks, all movements are handled in accordance with FCA’s client money rules.

What happens to my funds?

Client funds sent for transfer are routed directly to segregated client trust accounts at our FCA regulated payment platform provider, each held at a major UK bank. Funds for transfer are never held by HyperWire. Transfers are debited directly from the client trust account, only after the clients transfer has been initiated.

In the event of insolvency

If one of our banks or payment platform providers becomes insolvent, only the proportion of client money held at that bank is at risk. However, a client that meets the eligible claimant criteria of the Financial Services Compensation Scheme (“FSCS”) will benefit from the protection of the first £85,000 of that client’s deposited money. 

Governance

HyperWire is fully compliant with FCA rules regarding client money processes and operates only with carefully selected FCA regulated and compliant partners who are reviewed on a regular basis.