Is it safe to send money with Taptap Send?

Yes. Taptap Send is a licensed and regulated money transfer service. It is available in many countries around the world.

We are regulated

Taptap Send is authorised and regulated in every country where we operate. Regulation means we follow strict rules set by government bodies to protect you. These rules are about how we handle your money, your data, and our business.

Our key licences include:

• United Kingdom: authorised as an Electronic Money Institution (EMI) by the Financial Conduct Authority (FCA)
• European Union: authorised and regulated under European financial services law
• United States: licensed as a money transmitter in the states where we operate
• United Arab Emirates: in the process of being licensed by the Central Bank of the UAE (CBUAE)
• Australia: registered with AUSTRAC
• Canada: registered with FINTRAC
• Bahrain: licensed by the Central Bank of Bahrain (CBB)

For a full and up-to-date list of our licences, visit taptapsend.com/licenses.

Your money is protected

In the UK, we are an Electronic Money Institution (EMI), not a bank. It is worth understanding what this means for your money.

Banks protect deposits through the Financial Services Compensation Scheme (FSCS). The FSCS covers customers up to £85,000 if the bank fails. As an EMI, the FSCS does not apply to us. Instead, we protect your funds through a process called safeguarding.

Safeguarding means that we keep your money in a safe bank account while we process your transfer. Your money can only ever be used to send funds to your recipient, and nothing else. In the very unlikely event that Taptap Send stops operating, we will return this money to you.

In practice, we almost always pay your recipient before we debit your card. Thus, we rarely hold your money for any meaningful time at all.

You can read more about safeguarding on the FCA website.

Still need help? Contact our support team through the app.