GuideLast checked 8 November 2026
Is Incard safe?
Incard is a real, regulated business: an e-money institution authorised by the FCA, firm reference number 1027309. It isn't a bank, so your balance is safeguarded rather than covered by the FSCS. Here's what that means in practice.
By the editorial team. How we make money.
The short answer
- Incard Ltd is authorised by the FCA as an electronic money institution, firm reference number 1027309
- It keeps customer money separate from its own, in accounts with authorised credit institutions, and doesn't lend or invest it
- Your balance isn't covered by the FSCS, because Incard isn't a bank
- Many businesses keep reserves in a bank and use Incard for card spending
cashback a year on Incard's £0 Free plan from £5,000 a month of eligible ads, software and travel spend. Simple arithmetic, not a forecast.
£600
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Incard's licence
Incard says on its UK licence page that Incard Ltd is authorised by the Financial Conduct Authority as an electronic money institution. You can check this yourself: search for firm reference number 1027309 on the FCA Financial Services Register, and make sure the website and contact details listed there match the ones you're using.
What safeguarding means
An e-money institution has to keep customer money apart from its own. Incard's safeguarding statement says it holds customer funds in accounts with authorised credit institutions, separate from its own money, and doesn't lend or invest them.
If an e-money firm fails, safeguarded money forms a separate pool that its general creditors can't claim, and an insolvency practitioner returns it to customers. Incard's statement is candid that this may take time and that the amount returned depends on the value of the pool.
Why there's no FSCS cover
The FSCS protects eligible deposits at banks up to £120,000 per person, per bank. It says it can't protect money held with e-money or payment firms, and that applies to Incard as it does to other e-money providers such as Wise Business. Our e-money vs bank account guide compares the two in detail and shows which business accounts are banks.
How to use Incard sensibly
- Keep tax money and reserves in an FSCS-protected bank account.
- Move money to Incard for the card spending that earns cashback: ads, software and travel.
- Apply only through incard.co, and check the eligibility rules first.
When Incard isn't the answer
Incard isn't the right account if
- Your business is registered outside the UK and Switzerland. EEA onboarding is paused until an expected restart in 2027
- You're a charity, cooperative, foundation, trust or public body, or work in one of Incard's restricted industries
Our pick for card spendIncard: 1% cashback on ads, software and travel, on a £0 plan
Our pick for UK and Swiss businesses whose main costs go on cards, as long as you don't need bank deposit protection.
Work out your cashbackCheck eligibility
We may earn a commission if you apply.
- a month on the Free plan, with team cards
- £0
- cashback on ads, software and travel; 0.5% on other eligible spend
- 1%
- IBANs in three currencies
- GBP, EUR, USD
Sources
All checked on 8 November 2026. Where a provider's help centre or legal terms differ from its marketing pages, we follow the help centre and terms.