When you add money to your Tembo account as a one-off contribution or direct debit, your funds will be held by GoCardless in a designated bank-level secure account for our client funds for up to 1 business day prior to transferring into the accounts we hold.

Once the funds have been transferred to us from GoCardless, they will land in a secure account we use for our client funds with one of our partner banks - Barclays and Bank of Scotland. The reason we hold customer funds with partner banks is due to strict rules prescribed by the Financial Conduct Authority. This ensures customer funds are separate from our funds and ring-fenced - so we cannot use them for any purpose whatsoever.

This means that if Tembo were to cease operating, your funds are protected and Tembo would not be allowed to access them to support any ongoing activities.