How is the balance on my card protected?

Your One4all Gift Card is issued by GVS Prepaid Limited*, an e-money institution authorised by the Financial Conduct Authority (FCA) for the issuing of electronic money and the provision of payment services. It's important to understand that e-money institutions are not banks and, as such, the protection of your funds will differ from that of banks.

The funds on your card are classified as electronic money. For your protection, we are required at all times to hold money equal to the value of your card funds in a safeguarded bank account separate from our own funds. This is to ensure that we always have enough money available to cover your card spending and also to return your card funds to you should you decide to request a redemption of them. Redemption means when you request your card funds (which are e-money) are converted back into cash funds of equal value and transferred into your nominated bank account - see ''What does 'Redeeming my card funds mean?' for more details. This safeguarded money is also protected from our creditors (which means anyone we owe money to) and so in the unlikely event that we became insolvent (went bust) you should receive a pay out equal to your remaining card funds less only the costs of operating the safeguarded account and distributing such safeguarded funds as are required to be deducted by insolvency laws.

Your card funds are NOT protected by the Financial Services Compensation Scheme (FSCS) which does not cover e-money.

* GVS Prepaid Limited is a company incorporated in England and Wales under company number 09193070, authorised by the FCA under the Electronic Money Regulations 2011 (register reference 900230)