What is fund safeguarding?

Understanding what is fund safeguarding being applied to payments made on ipaymy

Vanessa Teo avatar
Written by Vanessa Teo
Updated over a week ago

Fund Safeguarding

Safeguarding is a process used by Financial Institutions to protect funds that they hold in trust for the beneficial use of their clients. The primary objective of Safeguarding is to protect client funds in a way which external factors or company dynamics do not affect them. This ensures the funds remain safe and accessible.

In compliance with the Payment Services Act 2019, this ensures your funds are protected and held in a segregated Safeguarded account. This is a specially designated account, completely separate from our operational account which ensures there is no mingling of client and company funds.

Fund Safeguarding Singapore

For payments made in Singapore, the added Fund Safeguarding feature will display as an additional line item on the checkout page. At S1 per payout, this is calculated based on the number of beneficiaries you are paying. The table below demonstrates this.


Safeguarding Fund Total

Single payment to a supplier


3 invoice payments to a supplier


Single payment to 5 different employees


You will be able to view the Safeguarding Funds total on the "Review and pay" page as shown:

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