Colibrix Limited
What is safeguarding?
Safeguarding is the process used to protect customer funds received in connection with electronic money and payment services.
Colibrix Limited (“Colibrix”, “we”, “us” or “our”) is authorised by the UK Financial Conduct Authority (“FCA”) as an Electronic Money Institution under firm reference number 927920. We are required to safeguard relevant customer funds in accordance with the Electronic Money Regulations 2011, the Payment Services Regulations 2017 and applicable FCA rules. These requirements are supplemented by the FCA’s safeguarding regime under Chapter 15 of the Client Assets Sourcebook (CASS 15), which took effect on 7 May 2026.
How safeguarding protects your funds
Safeguarding arrangements are designed to protect customer funds by keeping them separate from funds used for our business activities, or by providing protection through another method permitted by applicable law.
Permitted methods include holding funds in designated safeguarding accounts with authorised credit institutions, holding eligible secure, liquid assets under appropriate custody arrangements, or obtaining qualifying insurance or a comparable guarantee. The requirements applicable to each method are set out in the relevant legislation and FCA rules.
Customer funds subject to safeguarding must not be used to finance our operations or meet our own financial obligations.
Where funds are held in safeguarding accounts, the arrangements must appropriately restrict the account provider’s rights of set-off and recourse against those funds in respect of obligations unrelated to the safeguarding account.
What happens if Colibrix becomes insolvent?
Safeguarding is intended to make customer funds available for repayment through the applicable insolvency process, separately from funds available to meet the claims of our ordinary creditors.
If Colibrix becomes insolvent, an appointed administrator or liquidator would oversee the return of customer funds in accordance with applicable law. Repayment may take time, and the amount returned may be reduced by permitted costs associated with distributing the funds or by a shortfall. Safeguarding therefore does not constitute a guarantee of full or immediate repayment.
When safeguarding applies
Our safeguarding obligations begin when funds become subject to safeguarding under the applicable regulatory requirements. The precise timing depends on the service provided and how the funds are received.
Funds remain subject to safeguarding until the relevant obligation ends under applicable law, including following redemption of electronic money or payment to the payee or the payee’s payment service provider, as appropriate.
Records and reconciliations
We are required to maintain accurate records and perform safeguarding calculations and reconciliations in accordance with applicable FCA requirements.
These checks are designed to identify differences between the amounts that should be safeguarded and the funds or assets held for that purpose. Any discrepancies must be investigated and resolved in accordance with the relevant rules.
Safeguarding and the Financial Services Compensation Scheme
If Colibrix fails, funds held with us are not protected by the UK Financial Services Compensation Scheme (“FSCS”). Instead, relevant customer funds are protected through safeguarding.
Safeguarding does not operate through a fixed compensation limit per customer. The obligation applies to all relevant funds required to be safeguarded. This should not be understood as unlimited compensation or a guarantee that all funds will be recovered in an insolvency.
Independent information
To understand the protections available when using an electronic money institution or payment service provider, please refer to the FCA’s guidance:
Using payment service providers.
You can also check a firm’s authorisation and permissions on the FCA Financial Services Register.
Further information
If you have questions about how safeguarding applies to your funds, please review our Terms and Conditions or contact Colibrix support using the contact details published on our website.