Tembo and FSCS

MEEKUS

Hi
Sorry if this has been asked before. I have searched.

On the Martin Lewis website it says my Tembo money is covered by FSCS. However when I've checked on the FSCS website, it isn't. I'm so confused. Which one to believe?

I've checked on Tembos website, but they obviously say it is covered.

masonic

They are using partner banks, so it is those banks that need to be FSCS protected. But they also have Client Money permission in their own right, which gives you FSCS protection when they are in possession of your money.

The FSCS website has a flawed database that only includes traditional banks and building societies. The FCA register is more comprehensive as you can check for either Accepting Deposits or Client Money permissions. https://register.fca.org.uk/s/firm?id=0014G00002WKfXnQAL