At Apron, keeping your money safe is our top priority. We know that understanding what protections are in place can be confusing. This article explains Apron's responsibilities and how we keep your money secure.
Apron operates under its own Electronic Money Institution (EMI) licence
As of April 2025, Apron operates fully under its own FCA-authorised and regulated EMI licence (firm reference number: 1004915). This means we're independently responsible for complying with all our regulatory and legal requirements to safeguard and protect customer funds.
How we protect your money
100% of your money goes into a segregated safeguarding account on receipt, and is held by our chosen safeguarding banking partner, ClearBank. We maintain the right to hold your funds with any chosen partner bank in a designated safeguarding account in the future.
Understanding safeguarding
Apron is required by law to comply with the Safeguarding Rules. This ensures that all customer funds received to issue e-money must be safeguarded. 100% of the safeguarded funds must be held in specifically designated accounts at authorised credit institutions such as banks or the Bank of England.
A safeguarding account is a special type of segregated bank account used mainly by Payment Institutions (PIs) and EMIs, like Apron. Its main function is to protect your funds by keeping them separate from Apron's own money and preventing anyone else from accessing these funds.
Safeguarding rules ensure that the money we hold for you as our client is kept separate from Apron's own money and properly protected in a special safeguarding bank account. This separation means your money is not used by us for our own purposes, even if Apron were to become insolvent.
In summary, Safeguarding means that
Your funds are always protected.
Your funds are held separately from Apron's own money.
Your funds can't be used by Apron for any other purposes (like paying our suppliers or salaries).
In the unlikely event that Apron stopped trading, your safeguarded funds would be returned to you
Questions?
If you have any questions about how your money is protected or want to know more about safeguarding, we're happy to help. You can contact our support team at [email protected].
You can also read more about the differences in safeguarding requirements for EMIs and ring-fencing requirements for credit institutions in these articles published by the Bank of England and the Financial Conduct Authority: