For business

An Electronic Money Institution, or EMI, is a regulated firm that provides e-money and payment services. An EMI is not a bank and does not take deposits. Relevant client funds are safeguarded in accordance with applicable regulations.

You can apply for an account through TomPayment’s online application process by following the guided onboarding steps and providing the requested information and supporting documents. Account opening is subject to verification, compliance checks, eligibility and service availability, and access to services will depend on the outcome of the onboarding review.

TomPayment supports selected currencies, including EUR, GBP and USD, depending on the relevant service and transaction type. The availability of specific currencies may vary based on the product used, the destination or payment route, and applicable onboarding, compliance and operational requirements.

TomPayment provides international payment services for eligible clients through supported payment routes, which may include SEPA and SWIFT depending on the relevant service and transaction type. International payments are subject to onboarding, compliance checks, eligibility, destination coverage and service availability at the time of the transaction.

SEPA, or the Single Euro Payments Area, is a payment integration initiative in the European Union. It enables seamless and standardised Euro transactions across participating countries, making transfers within the Eurozone fast and cost-effective.

Certainly. TomPayment provides both individual and corporate debit cards in GBP. Enjoy the convenience of a physical or virtual card for seamless online and in-store transactions.

You can reach our customer support team by emailing support@tompayment.com or calling +44 1273 443842. Our dedicated support staff is available to assist you with any inquiries or concerns.

SEPA transfers are designed for Euro transactions within the SEPA region, offering fast and cost-effective transfers. On the other hand, SWIFT transfers are used for international transactions in various currencies, providing a global reach.

Yes. TomPayment’s online platform can be accessed through compatible mobile browsers, allowing you to review and use supported account features while on the go. Access to specific functionality may depend on the service used, device compatibility, technical availability and applicable security requirements.

As a UK-regulated Electronic Money Institution (EMI), Tompay is required by law to safeguard your funds.

This means that 100% of your funds are kept in designated safeguarding accounts, completely separate from Tompay’s own funds. We cannot use your money to run our company or pay our bills.

Safeguarding is a regulatory requirement for EMIs.

Tompay does not function like a traditional bank and does not lend your money. Instead, your funds are held in safeguarded accounts and kept fully separate from company funds.

No. The Financial Services Compensation Scheme (FSCS) applies to traditional banks. Because Tompay is an EMI, we protect your money through safeguarding instead.

While FSCS protection is limited (up to £120,000 per person), safeguarding ensures that the entire balance is kept separate and protected.

We hold customer funds with highly rated, authorised credit institutions.

To minimise risk, funds may be diversified across multiple Tier 1 banks in the UK, EU and Switzerland.

In the unlikely event of insolvency, your funds remain protected. Because they are held in safeguarded accounts, they are legally separated from Tompay’s own assets and cannot be used to pay company creditors.

An independent insolvency practitioner would return the safeguarded funds to customers as a priority.

Tompay is regulated by the Financial Conduct Authority (FCA) under the Electronic Money Regulations 2011 and the Payment Services Regulations 2017.

We apply strict controls, including:

• Daily reconciliation of customer funds
• Independent annual audits

These measures ensure compliance with safeguarding requirements.

Under UK law, if an EMI becomes insolvent, the costs of the insolvency process may be deducted from the total pool of safeguarded funds.

This applies only to the process of returning funds to customers.