Suits Me applies industry standard security to each of it's accounts, ensuring your money is as safe as it can be.
Our website is encrypted to ensure you account can be securely accessed if opened on a private web connection. The app is regularly updated to stay protected against new security threats.
For Accounts Opened From 22nd October 2024
If your Suits Me account is issued by IDT Financial Services:
The Suits Me Mastercard is issued by IDT Financial Services Limited, a regulated bank, licensed by the Gibraltar Financial Services Commission in Gibraltar that is permitted to issue e-money and provide payment services in the UK by the Financial Conduct Authority (FCA) (IDT Firm reference number: 453514).
The Suits Me Mastercard is an e-money product and therefore client funds are not protected by the Gibraltar Deposit Guarantee Scheme (GDGS).
Funds deposited in your Suits Me account are protected by being safeguarded in a segregated bank account.
For Accounts Opened Before 22nd October 2024
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. 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.