Protected Accounts

Your money is protected

Your Suits Me® account is an e-money account provided by Prepay Technologies Limited (trading as PPS). PPS is authorised and regulated by the Financial Conduct Authority for the issuance of e-money and provision of payment services, PPS is not a bank. Suits me is an agent of PPS.

PPS protects your money through a process known as safeguarding which means that your money is kept separate from PPS’s money or protected through an insurance policy or similar guarantee. Therefore, your money is not protected through Financial Service Compensation Scheme (FSCS) – this scheme is only available to banks.

We’ve worked incredibly hard to ensure your account is locked to outside interference, from our inbuilt web browser security measures to our separated accounts. Here’s a description where we try to break down the legal concerns regarding your account security and tell you how we ensure your money is protected above all else.

Legal Requirements

Suits Me® accounts are e-money accounts and are subject to The Electronic Money Regulations 2011. and The Payment Services Regulations 2017.

PrePay Technologies

We are partnered with PrePay Technologies Limited, specialists in e-money processing and payments who are fully authorised by the FCA. They provide Suits Me® accounts, issue e-money and the debit cards we provide to our customers. If you require the name of your bank when setting up payments, you’ll see PrePay Technologies’ address when doing so through the Suits Me® website.

Useful information