OneHub | Overview
Connect all your employee benefits, wellbeing, reward, and recognition so your people have one home for everything at work.
ExploreOneHub | Benefits
Run, Manage and engage your employees in, benefits - anywhere in the world.
Explore BenefitsOneHub | Discounts
Help employees’ pay go further with global savings on global brands to instantly increase the value of their post payroll spend.
Explore DiscountsOneHub | Reward & Recognition
Shine a light on all the incredible things happening across your organisation.
Explore R&RFree downloads
Get the latest global research, thought leadership, and practical advice in our reports, guides and eBooks.
Explore free downloadsCustomer stories
What’s it like partnering with Benefex? Nobody says it better than our customers. See what we’ve helped them achieve.
Explore storiesEvents and webinars
Check out our upcoming events. And explore our library of on-demand webinars, featuring clients, partners and industry influencers.
Explore events and webinarsCustomer stories
What is it like to work with Benefex? Nobody says it better than our customers. See what we’ve helped them achieve.
Explore storiesAwards
Check out the recognition we’ve received for excellence in delivering exceptional employee experiences.
Explore awardsESG
Discover our commitment to achieving net-zero emissions and how we’re making a difference.
Discover our commitmentsOneHub | Overview
Connect all your employee benefits, wellbeing, reward, and recognition so your people have one home for everything at work.
ExploreOneHub | Benefits
Run, Manage and engage your employees in, benefits - anywhere in the world.
Explore BenefitsOneHub | Discounts
Help employees’ pay go further with global savings on global brands to instantly increase the value of their post payroll spend.
Explore DiscountsOneHub | Reward & Recognition
Shine a light on all the incredible things happening across your organisation.
Explore R&RFree downloads
Get the latest global research, thought leadership, and practical advice in our reports, guides and eBooks.
Explore free downloadsCustomer stories
What’s it like partnering with Benefex? Nobody says it better than our customers. See what we’ve helped them achieve.
Explore storiesEvents and webinars
Check out our upcoming events. And explore our library of on-demand webinars, featuring clients, partners and industry influencers.
Explore events and webinarsCustomer stories
What is it like to work with Benefex? Nobody says it better than our customers. See what we’ve helped them achieve.
Explore storiesAwards
Check out the recognition we’ve received for excellence in delivering exceptional employee experiences.
Explore awardsESG
Discover our commitment to achieving net-zero emissions and how we’re making a difference.
Discover our commitments"We expect a consumer experience when we come into work and partnering with the right technology partner is absolutely critical to deliver that: It’s the reason we’ve partnered with Benefex."
Andrew Baillie, Head of Total Reward, Ocado Group
"We wanted to find a company to work with that would understand, on a personal and individual level, how much of a difference the right benefits could make for our employees. That’s why we chose Benefex."
Andrea Kilgour, HR Director, Plusnet
"Finding a benefits technology provider who takes the time to understand your strategy and company culture is essential."
Vanessa Corsie, Pensions Operations Manager, EDF
"We needed a global solution to a series of local problems. We wanted technology that would deliver local flexibility with global consistency."
Jennifer Burnett, Director of US Benefits, Snowflake
"We saw a great reduction in the number of cases being raised as our employees were empowered to help themselves."
Tatiana Beidar, Head of Compensation and Benefits, Salesforce
Trusted by ambitious companies, globally.
Copyright © 2024. All rights reserved. Benefex Limited Registered in England & Wales (No: 04768546). Registered office Mountbatten House, Grosvenor Square, Southampton SO15 2JU
Information given on regulated and unregulated products does not constitute any recommendations or advice. Benefex and Corporate Benefits are trading names of Benefex Financial Solutions Limited (FCA reference number: 468665). Benefex Financial Solutions Limited is authorised and regulated by the Financial Conduct Authority.
To ensure your money is safe we follow a process known as ‘safeguarding’ which is a regulatory requirement for all EMIs. In this process Paynetics keeps your money separate from their money and places it in a safeguarding account with a bank.
Does the deposit guarantee scheme cover my e-money? The deposit guarantee schemes, such as FSCS in the UK, protects consumers together with small businesses, limited companies and charities (that meet its eligibility criteria) when certain authorised financial services firms (such as a bank) fail and they cannot return your money to you. The scheme provides compensation only up to £85,000 per eligible person for an eligible claim. E-money is not covered by the deposit guarantee schemes because it is not a deposit.
Instead, the funds held in an e-money account are safeguarded and the full value (minus administrative costs applied by the insolvency practitioner) will be returned to you in the event that we go out of business. Because of the insolvency procedure, it may take longer (as compared to a claim on the deposit guarantee scheme (a FSCS claim)) for your money to be returned to you.
In the event of Paynetics UK going out of business, an insolvency practitioner would be appointed to return the funds we have safeguarded to our customers. This means you would get most of your money back, except for the costs deducted by the insolvency practitioner for distributing the money to our customers.
To ensure that funds of the users of payment services (the Clients) are safe Paynetics AD follows a process known as ‘safeguarding’ which is a regulatory requirement for all EMIs. In this process Paynetics AD keeps Clients’ money separate from its own money and places it in a safeguarding account with a bank.
Electronic money issued is not covered by any Deposit Guarantee Scheme which is a government backed scheme offering protection to customers’ funds of up to €100,000 per eligible customer. However, the aim of keeping funds equivalent to the value of the e-money in safeguarding accounts is to ensure that funds can be returned to the customer if the EMI becomes insolvent. The funds on the safeguarding accounts cannot be seized and forced execution cannot be carried out for obligations of Paynetics AD to persons other than the Clients.
In the event of an insolvency, Clients’ funds would remain in the safeguarding account at the designated bank and separated from Paynetics AD’s accounts and assets. Based on the applicable legal proceedings, the insolvency practitioner shall return the funds Paynetics AD has safeguarded to the Clients.