Ikigai is not a bank. We are an agent of PayrNet, which has an Electronic Money Licence. This means your money in the Everyday and Nest sections is held under e-money regulation in a segregated and safeguarded account at a partner bank - irrespective of the amount.
On the wealth side, your assets are held by our custodian Wealthkernel Ltd and the cash again by a partner bank in a segregated account. This means that any money held in ikigai accounts or investments is segregated and safeguarded. In the unlikely event of ikigai going into administration, your assets cannot be used to pay any creditors of ikigai.
Wealthkernel Limited is a UK-based custodian authorised and regulated by the FCA under Firm Number 723719. Your investments are eligible for compensation up to GBP 85,000 by the Financial Services Compensation Scheme.