Glint Pay Services Ltd (FRN 900657) is authorised and supervised by the FCA to issue e-money and provide payment services under the Electronic Money Regulations 2011 (the EMRs).
Update on 21/11/2019:
On 19/11/2019, Glint announced that it has obtained the necessary new investment and is no longer in administration. As a result, the control of Glint has returned from the Administrators back to the Glint management team who are now working to ensure services to European clients resume imminently.
For any client queries and for further updates, please see Glint’s website https://glintpay.com/ or contact the firm by either email at [email protected] or call 0203 915 8111 (Lines are open 9am to 6pm on Monday to Friday, and 9am to 1pm on Saturday).
Update on 30/09/2019:
Jason Daniel Baker and Geoffrey Paul Rowley of FRP Advisory LLP were appointed as joint administrators of Glint on 18 September 2019.
What should I do if I have money with Glint?
Customers should contact the joint administrators if they are concerned, have any questions or for any updates.
If you are a Glint client and need more information about how you will be affected, please contact FRP Advisory LLP.
Email: [email protected]
Address: c/o FRP Advisory LLP, 110 Cannon Street, London EC4N 6EU
When Glint issued electronic money it was required to hold money separately for those customers. The way in which this money needs to be held is set out in the EMRs and is referred to as safeguarded funds. The safeguarding requirements apply to Glint and the firm must comply with them at all times.
Safeguarding is a key consumer protection measure within the EMRs and Payments Services Regulations (PSRs). The purpose of safeguarding is to protect customer money if a firm fails.
Glint allows customers to purchase gold. This activity is not regulated by the FCA, and holdings in gold are not subject to safeguarding requirements.
Are my funds protected by the Financial Services Compensation Scheme (FSCS)?
The FSCS only applies to certain types of activity and only where the firm has the correct FCA permissions to undertake that activity. This does not include issuing electronic money or payment services. The purchase or holding of gold is not an FCA regulated activity and is not covered by the FSCS.
Glint safeguarded funds are also not protected by the FSCS.