At IFX Payments, we're committed to providing our clients with the best payment services and e-money services, while ensuring the highest level of protection for their funds.
How do we protect our clients’ funds?
We use a process called "safeguarding." This means that any money received from or held for a client is kept separate from IFX Payments' company funds. We do this by using the "segregation method" and depositing client money into accounts known as ‘safeguarding accounts’ with an (i) authorised firm or (ii) regulated financial institution that is a separate legal entity from IFX Payments. This method ensures that client money of all values is protected.
What happens if IFX becomes insolvent?
It's important to note that as an Authorised Firm, we're committed to safeguarding our clients' funds. However, in the unlikely event that IFX Payments becomes insolvent, the funds held in our safeguarding accounts would be used to pay our clients' claims above those of other creditors. Rest assured that authorised credit institutions have no rights over funds in IFX Payments' safeguarding accounts.
IFX Payments is an authorised by the Dubai Financial Services Authority (FRN F009827) for the provision of custody and money services.
