Protecting Your Funds
On March 10, US state regulators closed Silicon Valley Bank (SVB) and appointed the Federal Deposit Insurance Corporation as receiver to protect customer funds.
Message to our customers and partners:
2 minute readHere at Moneycorp, we would like to reassure you that the funds held in your account will not be impacted by the closure of Silicon Valley Bank (SVB) and will continue to be accessible to you as usual.
Moneycorp Group does not have a direct trading or banking relationship with SVB or any related entity. As a client of TTT Moneycorp Limited (“Moneycorp”), the registered UK entity of the Moneycorp Group, your funds are safeguarded in line with the Financial Conduct Authority (“FCA”) in the UK.
All relevant funds are safeguarded and no third-party creditors will have access to these funds.
Additionally, Moneycorp Bank, the banking entity of the Moneycorp Group, is the first of only two members of the Federal Reserve Bank of New York (FRBNY) FBICS program, providing Moneycorp Group with direct access to Federal Reserve US dollar currency services.
We recognise the importance of operating transparently and providing you peace of mind. With over 40 years of experience, we have built a large network of international banking partnerships, allowing our operations to continue as usual.
Should you have any questions, or if you or your business has been impacted by the SVB closure, please reach out to us.
Thank you,
Moneycorp Team
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