Sidekick is authorised and regulated by the Financial Conduct Authority (FCA).
Wallet Provider Upgrade
To upgrade your experience, we are in the process of migrating your Wallet provider and any balance from Currency Cloud to Griffin. Below are details of the protections that both providers provide for your wallet and funds; to check who is your current wallet provider is, access your wallet in the Sidekick app
Wallet protection from Griffin
Your Wallet is provided by Griffin, our banking partner.
Eligible deposits of up to £120,000 per depositor are covered by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme. Visit Griffin’s website to learn more about deposit protection.
Griffin is a company registered in England and Wales (No. 10842931). Griffin is authorised by the Prudential Regulation Authority (PRA) and regulated by the PRA and the Financial Conduct Authority (FCA). Griffin’s firm reference number is 970920
Wallet protection from Currency Cloud
Our payments services e-money provider, is authorised by the Financial Conduct Authority (FCA) for the issuance of electronic money and the provision of payment services (FCA registration number 900199). As Currency Cloud accounts are e-money accounts, they are not bank accounts, and FSCS protection does not apply. However, Currencycloud safeguards client funds in accordance with FCA requirements. You can learn more about their safeguarding approach here.
Investment protection from IBKR
Interactive Brokers (IBKR) is our custodian and partner for brokerage services. Interactive Brokers (U.K.) Ltd. (“IBUK”) custodies certain of your securities positions and cash with its US affiliate, Interactive Brokers LLC (“IBLLC”), which is licensed by the US Securities and Exchange Commission (SEC) and is a member of the Securities Investor Protection Corporation (SIPC).
Securities and cash custodied with IBLLC are protected by SIPC for up to $500,000 (including a $250,000 cash sublimit). IBLLC also maintains excess SIPC insurance through certain underwriters at Lloyd’s of London, providing additional coverage of up to $30 million (with a $900,000 cash sublimit), subject to an aggregate limit of $150 million. This protection covers broker-dealer failure, not losses due to market movements.