Safety and security
When you apply, we verify your identity and nominated account details electronically through reference agencies. (This does not affect your credit rating). For some customers we may also ask for documentary evidence of their name and address.
To prevent fraudulent withdrawals, you may only withdraw money from your Governor account to your nominated bank account, which must be in your name. The only exception to this is for Cash ISA money, which may be transferred to another provider by filling in a Cash ISA Transfer form.
Keeping your data safe
On all our web pages with personal information (such as when you apply or sign into your account), the pages are encrypted to protect your information.
You can recognise an encrypted web page by its address which begins https://.
In addition, these pages have been authenticated by Thawte, a leading global website Certification Authority. High-security browsers, such as the latest versions of Internet Explorer and Firefox, recognise this by turning the browser address bar green.
Keeping your money protected
With Governor, you can manage your money within the deposit protection limits of the Financial Services Compensation Scheme. This is a great way to ensure your money is safe.
Financial Services Compensation Scheme
The Financial Services Compensation Scheme (FSCS) ensures that deposits held in any authorised deposit taker in the UK are protected up to £85,000 per individual per deposit taker if the deposit taker was to default. Any invested money in your Governor account is held with the deposit taker you have chosen and therefore benefits from their FSCS compensation limit.
Governor is the only service that enables you to spread your deposits easily across providers.
- All Governor providers are UK authorised deposit takers, are regulated by the FSA, and are covered by the FSCS deposit compensation scheme.
- Where there are providers with multiple brands covered by the same authorisation and therefore the same £85,000 limit, we always make this clear.
- We show the holdings in your Governor account by deposit taker and warn you if you are about to go over your compensation-eligible limit.
Before you invest in a product
Moneys that are in any pot in your Governor account and are not invested in any products are called “available balance". This available balance is currently held in a trust account with Bank Of Scotland PLC who are authorised to accept deposits by the FSA and are members of the Financial Services Compensation Scheme. In order to avoid any exposure to you of Governor Finance Limited becoming insolvent, all money is held under bare trust in the name of a nominee company (Governor Finance Nominees Limited).