Where Bound has opened an e-money or payment account with a regulated service provider e.g. CurrencyCloud on your behalf:

When funds are posted to your account, in line with regulatory requirements, the regulated payment/e-money institutions who we work with safeguard your funds. This means that the funds shown in your payment account or e-wallet are held at reputable banks or covered by an insurance policy, and most importantly, are protected for you in the event of our partner e-money/payment institutions’, or our, insolvency. Our partners stop safeguarding your funds when the money has been paid out of your account to your beneficiary’s account.

Regulated FX Contracts and Client Money 

Bound will treat money received from you, in connection with a Regulated FX Contracts only, as 'client money' and will protect such money in accordance with the FCA client money rules. We will segregate such money, where received by us from our own money by placing it in a separate bank account with a reputable bank.The bank account will be opened in Bound's name but for your benefit. This is called a 'client money account'

For the avoidance of doubt, any money which Bound receives from or holds for you, will not be 'client money' and will not benefit from the client money protections when it becomes otherwise due and payable to Bound, e.g. in relation to a FX Forward, any Required Funding Amount (e.g. where funds are reserved for settlement). Please see more detail on when and how your Client Money is protected at https://bound.co/legal/bound-terms-and-conditions 

If you require a breakdown of the exact amounts of client money or funds you have safeguarded at each of our e-money/payments partners at a particular point in time, please do not hesitate to contact your account representative or email help@bound.co.