Marygold partners with Griffin Bank Ltd ("Griffin") to help deliver our services. The Marygold Easy Access Savings Account is provided by Griffin.
Griffin Bank Ltd (“Griffin”) is a company registered in England and Wales (No. 10842931). Griffin is authorised by the Prudential Regulation Authority (PRA) and regulated by the PRA and the Financial Conduct Authority (FCA). Griffin's firm reference number is 970920. Griffin is also a Certified B Corporation.
Griffin is the UK’s first full-stack Banking as a Service platform. They help make it easier for companies like Marygold launch tailored services on top of traditional banking products.
With Griffin doing the heavy lifting on complex financial infrastructure and compliance requirements, Marygold is able to focus on what matters for our customers.
This arrangement is important for our customers for many reasons:
- Our customers become direct customers of Griffin, a fully regulated UK bank. As a result our customers can rest easy that no customer money ever flows through any other bank accounts other than accounts they own directly.
- As customers of Griffin, our customers benefit from the Financial Services Compensation Scheme ("FSCS"). As Griffin is a UK bank, your funds are protected by the Financial Services Compensation Scheme (FSCS). The FSCS covers eligible deposits of up to £120,000 per depositor. It’s important to note that £120,000 is the maximum compensation you will receive across all bank accounts you hold with Griffin. If you deposit funds with Griffin via Marygold, and also deposit funds in a different account with Griffin via another provider that is also powered by Griffin, you will still only receive a maximum of £120,000 in compensation. Visit Griffin’s website to learn more about deposit protection.