What does “safeguarding” mean and how Decta protects client funds?
Safeguarding means protecting client funds received by Decta for provision of its payment services. To protect client funds, Decta keeps those separately from its own money on segregated client funds accounts with credit institutions (banks) located within the European Union.
This segregated method of client funds safeguarding ensures that the Company does not commingle its own and clients' funds and that in case the Company may face any financial difficulties, the clients' funds remain safe and protected at dedicated client funds accounts in banks.
To summarize, the client funds protection applied by Decta includes the following measures:
- Client funds are deposited in segregated safeguarding accounts held with authorized credit institutions within the European Union;
- Client funds are not used for the Company’s own business activities or operational purposes;
- Appropriate internal controls, reconciliation procedures, and monitoring mechanisms are maintained to ensure that client funds are identified and protected at all times; and
- Safeguarding arrangements are subject to ongoing compliance oversight and regulatory review.
Client funds are protected in accordance with applicable European Union legislation, including Article 10 of PSD2 and relevant guidelines issued by the European Banking Authority.
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