Keeping customer money safe: our controls and processes

We enlisted @Rob to write up an overview of our security processes for how we’ll keep our client money safe.

https://freetrade.io/blog/keeping-client-money-safe/

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I forgot to share this the other day but good news, FSCS protection now covers up to 85k worth of investments :tada:

https://www.fscs.org.uk/what-we-cover/investments/

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In the line of security I have a question which I have been forgetting to ask. As I understand your next priority is to be able to top up directly with a debit card, which is great. My question is would you be able to withdraw money to a random debit card, even not in your name?
My idea is that if someone gets a hold of your account it would be very easy for them to just withdraw all the funds in a random card. Right now I feel pretty secure knowing that only my bank account is connected to my account and even if someone gets a hold of it he/she cannot withdraw the money to a seperate bank account.
Hope you understand my point.

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This is news to me :smile:

There was question about card topups in the meetup, here’s a direct link to the where it’s discussed in the Designing Freetrade for Android March community meetup.

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Excellent spot both!

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That’s really good to know, Toby. Hopefully we won’t ever need to put it to the test!

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When firms have gone bust in the past, does anyone know how long it has taken to transfer investments to another provider and or return cash ?