A safeguarded bank account is a special type of account used to protect customer funds. The key purpose of these accounts is to ensure that customer money is kept separate from the company’s own funds and therefore cannot be used to pay off the company’s debts, reducing the risk of loss if the company goes bankrupt.
At nsave, safeguarding is a fundamental part of how we protect your money. Every penny in non-investment accounts is held in safeguarded accounts, in compliance with the Electronic Money Directive.
In short, a safeguarded bank account acts like a protective vault for your money. By separating your funds from a company’s own finances, it provides an extra layer of security and peace of mind—two things we take very seriously at nsave.