How Secure are my funds?


Even though we’re not a bank, all your funds are securely held by our partner, IDT finance, a fully regulated EU bank.  

If we were ever to go bankrupt, your money will be safe as IDT Finance will have your funds and will return them to you. As IDT is a regulated bank, if anything should happen to them, their debts (money owed to customers) will be handed to an independent administrator who will reallocate any funds back to their rightful owners.  

All funds are held by IDT fall under the Gibraltar Deposit Guarantee Scheme (GDGS). This protects depositors (such as WeSwap members) and pays compensation in the event of a Credit Institution authorised by the Gibraltar Financial Services Commission (GFSC) being unable to repay deposits. 

The specifics of that arrangement are:  

  • All customer funds are held as customer funds by IDT Finance in accounts held at several international banks.  We don’t have access to these funds. 
  • IDT Finance monitors all accounts and transactions to safeguard and protect these funds. 
  • No customer can swap on credit, their funds are always already in the WeSwap system. 
  • The card is specially designed for electronic use only, reducing the risk of fraud. 



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