This document was last updated on 04/06/2009
1. Additional considerations for ecoAccount holders
By holding an ecoAccount you will be able to maintain an account balance of over £1,000 (or equivalent in your account currency), because of this you are alerted to the following conditions:
The ecoAccount provided by PSI-Pay Ltd. is an electronic money product and although it is a product regulated by the UK’s Financial Conduct Authority (FCA), it is not covered by the UK’s Financial Services Compensation Scheme. No other compensation scheme exists to cover losses claimed in connection with this e-money account. This means that in the unlikely event that PSI-Pay becomes insolvent your funds may become valueless and unusable and as a result you may lose your money.
ecoPayz is a brand name of PSI-Pay Ltd. PSI-Pay Ltd is authorised and regulated by the Financial Conduct Authority (FCA) under the Electronic Money Regulations 2011 (FCA register number 900011) for the issuing of electronic money. PSI-Pay Ltd registered office is at Afon Building, Worthing Road, Horsham, West Sussex, RH12 1TL, England.