The balance in your Ikigai Everyday and Nest Accounts is Electronic Money and as such it is not covered by the FSCS. However, your money is held under e-money regulation in a segregated and safeguarded account at a partner bank. We never lend out customer's money. This means that in the unlikely event of a default of ikigai, 100% of the customer's money is in a safeguarded and segregated account - irrespective of the amount.
Your investments are held in custody by Wealthkernel Limited. In the unlikely event of ikigai going into administration, your assets are held in a segregated
custody account. This means that 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 theFinancial Services Compensation Scheme.
Please note, the. FSCS does not cover any decline in investments.