Last updated: 7 August 2026
1. Why this page exists
Before you send money you should understand what happens to your funds while they are with us, and what would happen if our business failed. This page explains both in plain English.
2. How long we hold your money
We only hold your money for as long as it takes to execute your transfer. Funds are received, allocated to your transaction reference, and released to your beneficiary's collection point. We do not offer accounts, balances, deposits, savings or interest, and you cannot leave money with us for any other purpose.
3. Segregation and reconciliation
- Customer funds are kept separate from our own operating money.
- Every payment in and out is recorded against a transaction reference in our ledger.
- We reconcile balances daily against that ledger, and agent tills are reconciled and signed off each business day.
- Funds are only released to the beneficiary you nominate, on presentation of the correct reference and identification.
4. No FSCS protection
Money you send through us is not protected by the Financial Services Compensation Scheme (FSCS). The FSCS covers deposits held with banks and building societies; it does not cover payment or money remittance services. We reduce the risk to you by segregating customer funds, reconciling daily, and settling transfers as quickly as possible — usually the same day.
5. If our business failed
If we became insolvent, any customer funds we held that had not yet been paid out would be identified from our segregated records and transaction ledger and dealt with as customer money by the appointed insolvency practitioner. Recovery is not guaranteed and could take time. This is one reason we do not encourage customers to pay us in advance of an actual transfer.
6. Cash handling
Cash paid in at a branch or to an agent is receipted immediately, recorded against your transaction, and included in that day's till reconciliation. Always take and keep your receipt — it is your evidence of payment.
7. Protecting yourself
- Only pay us through the channels shown on our Contact page or at a listed branch or agent.
- Always get a receipt with a transaction reference number.
- Never send money on to someone who contacted you unexpectedly — see our fraud and scam guidance.
8. Questions
If you want to know more about how your funds are held, email compliance@sarafiasif.com. See also our Regulatory Information and Terms & Conditions.