AstroPay is committed to keeping your money safe. This article explains how we do that, what regulations we follow, and how your funds are protected through safeguarding—not a compensation scheme.
How AstroPay is regulated
AstroPay Global (IOM) Limited is authorised and regulated by the Isle of Man Financial Services Authority as a provider of money transmission and electronic money (e-money) services.
As part of our regulatory obligations, we’re required to protect customer funds using a method called safeguarding.
What is safeguarding?
Safeguarding means your money is held in a dedicated safeguarding account that’s separate from AstroPay’s business funds.
Here’s how it works:
Segregated funds: Your money is kept completely separate from AstroPay’s own funds.
No business use: We can’t use your money to pay business costs, debts, or anything else.
Clearly labelled account: These funds are held in accounts clearly identified as safeguarding accounts.
Trusted banks: These accounts are held with licensed, approved banks that meet strict regulatory criteria.
What does this mean for you?
If AstroPay were ever to become insolvent, the funds in our safeguarding accounts would be protected and returned to you. These funds are ring-fenced, meaning they can’t be touched by creditors or used for anything other than returning your balance.
Is my money covered by a compensation scheme?
No. AstroPay is not a bank and does not offer deposit accounts. Because of this, your funds are not protected by the Isle of Man Depositors’ Compensation Scheme (DCS).
Instead, your money is protected through the safeguarding measures explained above—this is the legally required method for e-money institutions like AstroPay.
More ways we keep your money and data safe
We go beyond safeguarding to protect your AstroPay account. Security features include:
Strict identity verification (KYC)
Biometric logins
Real-time fraud monitoring
End-to-end data encryption