Live rate: 1 GBP = 20070.0000 IDR (-0.27%)

Inverted: 1 IDR = 0.0000 GBP

Click here for our full travel and holiday rates comparison tool.

Comparison Results:

ProviderExchange RateFeeYou GetServiceNotesAction

Live Market Rate

20070.0000019,869.3000
wise 20,070.00000.57%19,955.6010 Best Multi-Currency Card The UK's leading payment provider
Travel FX 18,960.8114018,960.8114 Holiday FX, Cash Delivery A specialist alternative to banks, bureau de change & the Post Office for clients seeking competitive currency exchange rates. A multiple award-winning company, offering free delivery (over £700.00), no commission charges, payment by Debit Card or Bank Transfer and typically offering the best exchange rates available.
currencyonlinegroup 18,845.9106018,845.9106 Best Branch Collection Also offer delivery and cash buyback services. Home delivery orders of £5 and above are accepted, for branch collection the minimum is £500. One of the highest rated companies we survey according to independent rating review providers.
The coventfx 17,979.1877017,979.1877Holiday FX, Cash Delivery Covent Garden FX is a family-owned and operated Bureau De Change located in the heart of Central London. Established for over 20 years, we offer extremely competitive exchange rates with no commission and no fees.

Best Bank Rate

Banks
19,508.0400

(upper range)

Variable19,508.0400 Payments, transfers, holiday money Determined using data on spread charges supplied by IMTI

Worst Bank Rate

Banks
19,367.5500

(lower range)

Variable19,367.5500Payments, transfers, holiday money Determined using data on spread charges supplied by Money Mover and Accourt

Paypal

Paypal
19,166.8500019,166.8500 International Payments and Transfers
For full historical data please visit: GBP/IDR exchange rate history pages for the year 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012

January - 2024

SunMonTueWedThuFriSat
1
2

Open: 19,595.0000

Close: 19,559.0000

Mid: 19,626.0000

3

Open: 19,558.0000

Close: 19,702.0000

Mid: 19,630.5000

4

Open: 19,705.0000

Close: 19,674.0000

Mid: 19,697.0000

5

Open: 19,673.0000

Close: 19,715.0000

Mid: 19,676.0000

6
7
8

Open: 19,719.0000

Close: 19,755.0000

Mid: 19,741.5000

9

Open: 19,763.0000

Close: 19,744.0000

Mid: 19,770.0000

10

Open: 19,744.0000

Close: 19,824.0000

Mid: 19,785.0000

11

Open: 19,818.0000

Close: 19,849.0000

Mid: 19,832.5000

12

Open: 19,850.0000

Close: 19,828.0000

Mid: 19,846.5000

13
14
15

Open: 19,827.0000

Close: 19,784.0000

Mid: 19,812.5000

16

Open: 19,795.0000

Close: 19,743.0000

Mid: 19,765.0000

17

Open: 19,745.0000

Close: 19,818.0000

Mid: 19,774.0000

18

Open: 19,816.0000

Close: 19,839.0000

Mid: 19,807.0000

19

Open: 19,839.0000

Close: 19,828.0000

Mid: 19,811.5000

20
21
22

Open: 19,837.0000

Close: 19,895.0000

Mid: 19,889.0000

23

Open: 19,896.0000

Close: 19,939.0000

Mid: 19,939.0000

24

Open: 19,937.0000

Close: 20,000.0000

Mid: 19,989.5000

25

Open: 20,000.0000

Close: 20,091.0000

Mid: 20,159.0000

26

Open: 20,084.0000

Close: 20,041.0000

Mid: 20,084.0000

27
28
29

Open: 20,037.0000

Close: 20,112.0000

Mid: 20,077.0000

30

Open: 20,113.0000

Close: 20,065.0000

Mid: 20,048.5000

31

Open: 20,049.0000

Close: 20,002.0000

Mid: 20,018.0000

February - 2024

SunMonTueWedThuFriSat
1

Open: 20,005.0000

Close: 20,042.0000

Mid: 19,976.0000

2

Open: 20,042.0000

Close: 19,876.0000

Mid: 19,965.0000

3
4
5

Open: 19,872.0000

Close: 19,754.0000

Mid: 19,802.5000

6

Open: 19,755.0000

Close: 19,824.0000

Mid: 19,789.5000

7

Open: 19,822.0000

Close: 19,754.0000

Mid: 19,783.5000

8

Open: 19,754.0000

Close: 19,758.0000

Mid: 19,746.0000

9

Open: 19,754.0000

Close: 19,717.0000

Mid: 19,737.0000

10
11
12

Open: 19,720.0000

Close: 19,668.0000

Mid: 19,696.0000

13

Open: 19,666.0000

Close: 19,717.0000

Mid: 19,735.5000

14

Open: 19,719.0000

Close: 19,559.0000

Mid: 19,668.0000

15

Open: 19,566.0000

Close: 19,688.0000

Mid: 19,620.0000

16

Open: 19,702.0000

Close: 19,725.0000

Mid: 19,705.0000

17
18
19

Open: 19,728.0000

Close: 19,690.0000

Mid: 19,712.5000

20

Open: 19,690.0000

Close: 19,760.0000

Mid: 19,747.0000

21

Open: 19,761.0000

Close: 19,793.0000

Mid: 19,753.5000

22

Open: 19,775.0000

Close: 19,732.0000

Mid: 19,734.0000

23

Open: 19,727.0000

Close: 19,759.0000

Mid: 19,769.0000

24
25
26

Open: 19,759.0000

Close: 19,833.0000

Mid: 19,812.5000

27

Open: 19,833.0000

Close: 19,869.0000

Mid: 19,849.5000

28

Open: 19,865.0000

Close: 19,891.0000

Mid: 19,874.0000

29

Open: 19,901.0000

Close: 19,820.0000

Mid: 19,873.0000

March - 2024

SunMonTueWedThuFriSat
1

Open: 19,821.0000

Close: 19,878.0000

Mid: 19,851.5000

2
3
4

Open: 19,879.0000

Close: 19,999.0000

Mid: 19,940.0000

5

Open: 19,999.0000

Close: 19,999.0000

Mid: 20,000.5000

6

Open: 20,000.0000

Close: 19,931.0000

Mid: 19,970.5000

7

Open: 19,931.0000

Close: 20,003.0000

Mid: 19,957.0000

8

Open: 20,002.0000

Close: 19,983.0000

Mid: 19,969.0000

9
10
11

Open: 19,992.0000

Close: 19,880.0000

Mid: 19,933.5000

12

Open: 19,880.0000

Close: 19,893.0000

Mid: 19,850.5000

13

Open: 19,893.0000

Close: 19,923.0000

Mid: 19,924.5000

14

Open: 19,922.0000

Close: 19,925.0000

Mid: 19,940.5000

15

Open: 19,925.0000

Close: 19,924.0000

Mid: 19,901.5000

16
17
18

Open: 19,921.0000

Close: 20,034.0000

Mid: 19,970.5000

19

Open: 20,035.0000

Close: 19,997.0000

Mid: 19,990.0000

20

Open: 19,997.0000

Close: 20,055.0000

Mid: 20,009.0000

21

Open: 20,055.0000

Close: 19,890.0000

Mid: 19,999.0000

22

Open: 19,891.0000

Close: 19,922.0000

Mid: 19,937.5000

23
24
25

Open: 19,921.0000

Close: 19,944.0000

Mid: 19,930.5000

26

Open: 19,944.0000

Close: 19,976.0000

Mid: 19,971.5000

27

Open: 19,976.0000

Close: 20,074.0000

Mid: 20,025.0000

28

Open: 20,075.0000

Close: 20,039.0000

Mid: 20,036.0000

29

Open: 20,040.0000

Close: 20,048.0000

Mid: 20,047.5000

30
31

April - 2024

SunMonTueWedThuFriSat
1

Open: 20,047.0000

Close: 20,012.0000

Mid: 20,050.0000

2

Open: 20,014.0000

Close: 20,054.0000

Mid: 20,005.0000

3

Open: 20,054.0000

Close: 20,144.0000

Mid: 20,078.5000

4

Open: 20,143.0000

Close: 20,093.0000

Mid: 20,124.0000

5

Open: 20,093.0000

Close: 20,077.0000

Mid: 20,050.0000

6
7
8

Open: 20,074.0000

Close: 20,119.0000

Mid: 20,081.5000

9

Open: 20,120.0000

Close: 20,139.0000

Mid: 20,130.5000

10

Open: 20,140.0000

Close: 20,040.0000

Mid: 20,077.5000

11

Open: 20,039.0000

Close: 20,097.0000

Mid: 20,058.5000

12

Open: 20,098.0000

Close: 20,066.0000

Mid: 20,119.0000

13
14
15

Open: 20,067.0000

Close: 20,018.0000

Mid: 20,053.5000

16

Open: 20,017.0000

Close: 20,255.0000

Mid: 20,141.0000

17

Open: 20,256.0000

Close: 20,179.0000

Mid: 20,262.5000

18

Open: 20,183.0000

Close: 20,164.0000

Mid: 20,190.5000

19

Open: 20,163.0000

Close: 20,061.0000

Mid: 20,161.5000

20
21
22

Open: 20,064.0000

Close: 20,054.0000

Mid: 20,060.0000

23

Open: 20,055.0000

Close: 20,095.0000

Mid: 20,065.5000

24

Open: 20,096.0000

Close: 20,212.0000

Mid: 20,136.5000

25

Open: 20,211.0000

Close: 20,263.0000

Mid: 20,212.5000

26

Open: 20,263.0000

Close: 20,292.0000

Mid: 20,276.0000

27
28
29

Open: 20,291.0000

Close: 20,400.0000

Mid: 20,346.5000

30

Open: 20,400.0000

Close: 20,317.0000

Mid: 20,366.5000

May - 2024

SunMonTueWedThuFriSat
1

Open: 20,317.0000

Close: 20,292.0000

Mid: 20,277.5000

2

Open: 20,292.0000

Close: 20,171.0000

Mid: 20,233.5000

3

Open: 20,171.0000

Close: 20,037.0000

Mid: 20,125.0000

4
5
6

Open: 20,047.0000

Close: 20,145.0000

Mid: 20,126.5000

7

Open: 20,145.0000

Close: 20,102.0000

Mid: 20,139.5000

8

Open: 20,103.0000

Close: 20,083.0000

Mid: 20,060.5000

9

Open: 20,082.0000

Close: 20,069.0000

Mid: 20,050.0000

10

Open: 20,069.0000

Close: 20,112.0000

Mid: 20,088.5000

11
12
13

Open: 20,110.0000

Close: 20,239.0000

Mid: 20,188.0000

14

Open: 20,239.0000

Close: 20,272.0000

Mid: 20,234.5000

15

Open: 20,272.0000

Close: 20,194.0000

Mid: 20,199.0000

16

Open: 20,193.0000

Close: 20,183.0000

Mid: 20,182.5000

17

Open: 20,183.0000

Close: 20,270.0000

Mid: 20,229.0000

18
19
20

Open: 20,271.0000

Close: 20,365.0000

Mid: 20,316.0000

21

Open: 20,366.0000

Close: 20,336.0000

Mid: 20,342.5000

22

Open: 20,336.0000

Close: 20,395.0000

Mid: 20,370.5000

23

Open: 20,395.0000

Close: 20,431.0000

Mid: 20,430.5000

24

Open: 20,431.0000

Close: 20,436.0000

Mid: 20,422.0000

25
26
27

Open: 20,437.0000

Close: 20,521.0000

Mid: 20,480.0000

28

Open: 20,521.0000

Close: 20,561.0000

Mid: 20,553.0000

29

Open: 20,562.0000

Close: 20,624.0000

Mid: 20,609.5000

30

Open: 20,625.0000

Close: 20,664.0000

Mid: 20,636.0000

31

Open: 20,665.0000

Close: 20,713.0000

Mid: 20,691.5000

June - 2024

SunMonTueWedThuFriSat
1
2
3

Open: 20,713.0000

Close: 20,762.0000

Mid: 20,690.5000

4

Open: 20,762.0000

Close: 20,797.0000

Mid: 20,787.5000

5

Open: 20,797.0000

Close: 20,855.0000

Mid: 20,828.0000

6

Open: 20,855.0000

Close: 20,768.0000

Mid: 20,814.5000

7

Open: 20,768.0000

Close: 20,706.0000

Mid: 20,734.5000

8
9
10

Open: 20,707.0000

Close: 20,761.0000

Mid: 20,722.5000

11

Open: 20,761.0000

Close: 20,770.0000

Mid: 20,754.0000

12

Open: 20,771.0000

Close: 20,780.0000

Mid: 20,810.5000

13

Open: 20,779.0000

Close: 20,782.0000

Mid: 20,786.0000

14

Open: 20,782.0000

Close: 20,916.0000

Mid: 20,868.0000

15
16
17

Open: 20,915.0000

Close: 20,919.0000

Mid: 20,854.5000

18

Open: 20,920.0000

Close: 20,811.0000

Mid: 20,863.5000

19

Open: 20,810.0000

Close: 20,849.0000

Mid: 20,825.0000

20

Open: 20,850.0000

Close: 20,870.0000

Mid: 20,896.5000

21

Open: 20,871.0000

Close: 20,835.0000

Mid: 20,840.5000

22
23
24

Open: 20,831.0000

Close: 20,792.0000

Mid: 20,782.5000

25

Open: 20,792.0000

Close: 20,803.0000

Mid: 20,791.5000

26

Open: 20,802.0000

Close: 20,738.0000

Mid: 20,803.0000

27

Open: 20,737.0000

Close: 20,706.0000

Mid: 20,727.5000

28

Open: 20,706.0000

Close: 20,678.0000

Mid: 20,685.0000

29
30

July - 2024

SunMonTueWedThuFriSat
1

Open: 20,681.0000

Close: 20,696.0000

Mid: 20,708.5000

2

Open: 20,699.0000

Close: 20,785.0000

Mid: 20,735.0000

3

Open: 20,785.0000

Close: 20,826.0000

Mid: 20,814.5000

4

Open: 20,827.0000

Close: 20,845.0000

Mid: 20,832.0000

5

Open: 20,847.0000

Close: 20,828.0000

Mid: 20,814.5000

6
7
8

Open: 20,827.0000

Close: 20,850.0000

Mid: 20,855.0000

9

Open: 20,854.0000

Close: 20,805.0000

Mid: 20,838.0000

10

Open: 20,806.0000

Close: 20,820.0000

Mid: 20,800.5000

11

Open: 20,820.0000

Close: 20,798.0000

Mid: 20,796.0000

12

Open: 20,797.0000

Close: 20,925.0000

Mid: 20,857.0000

13
14
15

Open: 20,922.0000

Close: 20,995.0000

Mid: 20,979.5000

16

Open: 20,995.0000

Close: 20,975.0000

Mid: 20,979.0000

17

Open: 20,975.0000

Close: 20,995.0000

Mid: 20,969.0000

18

Open: 20,996.0000

Close: 20,952.0000

Mid: 20,989.5000

19

Open: 20,951.0000

Close: 20,936.0000

Mid: 20,944.5000

20
21
22

Open: 20,938.0000

Close: 20,971.0000

Mid: 20,960.0000

23

Open: 20,970.0000

Close: 20,932.0000

Mid: 20,946.0000

24

Open: 20,933.0000

Close: 20,965.0000

Mid: 20,944.5000

25

Open: 20,966.0000

Close: 20,985.0000

Mid: 20,993.5000

26

Open: 20,986.0000

Close: 20,953.0000

Mid: 20,964.5000

27
28
29

Open: 20,955.0000

Close: 20,960.0000

Mid: 20,926.5000

30

Open: 20,959.0000

Close: 20,949.0000

Mid: 20,969.0000

31

Open: 20,948.0000

Close: 20,888.0000

Mid: 20,914.5000

August - 2024

SunMonTueWedThuFriSat
1

Open: 20,888.0000

Close: 20,731.0000

Mid: 20,819.5000

2

Open: 20,731.0000

Close: 20,689.0000

Mid: 20,663.0000

3
4
5

Open: 20,673.0000

Close: 20,702.0000

Mid: 20,659.5000

6

Open: 20,702.0000

Close: 20,504.0000

Mid: 20,611.0000

7

Open: 20,505.0000

Close: 20,341.0000

Mid: 20,429.5000

8

Open: 20,340.0000

Close: 20,368.0000

Mid: 20,258.5000

9

Open: 20,367.0000

Close: 20,336.0000

Mid: 20,321.5000

10
11
12

Open: 20,333.0000

Close: 20,352.0000

Mid: 20,382.5000

13

Open: 20,353.0000

Close: 20,252.0000

Mid: 20,301.0000

14

Open: 20,253.0000

Close: 20,043.0000

Mid: 20,130.5000

15

Open: 20,043.0000

Close: 20,261.0000

Mid: 20,136.5000

16

Open: 20,261.0000

Close: 20,298.0000

Mid: 20,288.0000

17
18
19

Open: 20,300.0000

Close: 20,175.0000

Mid: 20,227.0000

20

Open: 20,174.0000

Close: 20,126.0000

Mid: 20,113.5000

21

Open: 20,127.0000

Close: 20,291.0000

Mid: 20,209.0000

22

Open: 20,290.0000

Close: 20,600.0000

Mid: 20,442.0000

23

Open: 20,600.0000

Close: 20,352.0000

Mid: 20,451.5000

24
25
26

Open: 20,349.0000

Close: 20,398.0000

Mid: 20,324.0000

27

Open: 20,397.0000

Close: 20,508.0000

Mid: 20,478.0000

28

Open: 20,507.0000

Close: 20,358.0000

Mid: 20,457.0000

29

Open: 20,358.0000

Close: 20,346.0000

Mid: 20,313.5000

30

Open: 20,346.0000

Close: 20,391.0000

Mid: 20,388.5000

31

September - 2024

SunMonTueWedThuFriSat
1
2

Open: 20,391.0000

Close: 20,428.0000

Mid: 20,413.0000

3

Open: 20,427.0000

Close: 20,378.0000

Mid: 20,375.0000

4

Open: 20,378.0000

Close: 20,300.0000

Mid: 20,337.0000

5

Open: 20,299.0000

Close: 20,299.0000

Mid: 20,286.5000

6

Open: 20,300.0000

Close: 20,300.0000

Mid: 20,299.0000

7
8
9

Open: 20,296.0000

Close: 20,215.0000

Mid: 20,286.5000

10

Open: 20,216.0000

Close: 20,240.0000

Mid: 20,220.5000

11

Open: 20,241.0000

Close: 20,120.0000

Mid: 20,162.0000

12

Open: 20,119.0000

Close: 20,233.0000

Mid: 20,164.0000

13

Open: 20,233.0000

Close: 20,227.0000

Mid: 20,223.5000

14
15
16

Open: 20,226.0000

Close: 20,319.0000

Mid: 20,267.5000

17

Open: 20,319.0000

Close: 20,201.0000

Mid: 20,263.5000

18

Open: 20,201.0000

Close: 20,223.0000

Mid: 20,219.0000

19

Open: 20,223.0000

Close: 20,171.0000

Mid: 20,175.5000

20

Open: 20,172.0000

Close: 20,198.0000

Mid: 20,105.0000

21
22
23

Open: 20,197.0000

Close: 20,261.0000

Mid: 20,234.5000

24

Open: 20,261.0000

Close: 20,285.0000

Mid: 20,276.0000

25

Open: 20,284.0000

Close: 20,249.0000

Mid: 20,261.5000

26

Open: 20,248.0000

Close: 20,228.0000

Mid: 20,216.0000

27

Open: 20,232.0000

Close: 20,225.0000

Mid: 20,245.5000

28
29
30

Open: 20,227.0000

Close: 20,323.0000

Mid: 20,289.5000

October - 2024

SunMonTueWedThuFriSat
1

Open: 20,323.0000

Close: 20,275.0000

Mid: 20,283.5000

2

Open: 20,274.0000

Close: 20,302.0000

Mid: 20,271.0000

3

Open: 20,302.0000

Close: 20,269.0000

Mid: 20,330.0000

4

Open: 20,270.0000

Close: 20,561.0000

Mid: 20,446.0000

5
6
7

Open: 20,566.0000

Close: 20,571.0000

Mid: 20,578.5000

8

Open: 20,571.0000

Close: 20,534.0000

Mid: 20,552.0000

9

Open: 20,534.0000

Close: 20,521.0000

Mid: 20,475.0000

10

Open: 20,519.0000

Close: 20,474.0000

Mid: 20,484.5000

11

Open: 20,473.0000

Close: 20,345.0000

Mid: 20,408.0000

12
13
14

Open: 20,343.0000

Close: 20,327.0000

Mid: 20,349.0000

15

Open: 20,326.0000

Close: 20,348.0000

Mid: 20,338.0000

16

Open: 20,349.0000

Close: 20,226.0000

Mid: 20,258.0000

17

Open: 20,225.0000

Close: 20,198.0000

Mid: 20,179.0000

18

Open: 20,196.0000

Close: 20,198.0000

Mid: 20,187.5000

19
20
21

Open: 20,197.0000

Close: 20,168.0000

Mid: 20,193.5000

22

Open: 20,169.0000

Close: 20,214.0000

Mid: 20,202.0000

23

Open: 20,215.0000

Close: 20,208.0000

Mid: 20,262.0000

24

Open: 20,208.0000

Close: 20,262.0000

Mid: 20,199.0000

25

Open: 20,262.0000

Close: 20,347.0000

Mid: 20,304.5000

26
27
28

Open: 20,350.0000

Close: 20,403.0000

Mid: 20,400.0000

29

Open: 20,403.0000

Close: 20,499.0000

Mid: 20,450.5000

30

Open: 20,498.0000

Close: 20,325.0000

Mid: 20,411.0000

31

Open: 20,325.0000

Close: 20,241.0000

Mid: 20,308.5000

November - 2024

SunMonTueWedThuFriSat
1

Open: 20,242.0000

Close: 20,457.0000

Mid: 20,376.0000

2
3
4

Open: 20,456.0000

Close: 20,437.0000

Mid: 20,447.5000

5

Open: 20,436.0000

Close: 20,514.0000

Mid: 20,469.5000

6

Open: 20,512.0000

Close: 20,352.0000

Mid: 20,455.5000

7

Open: 20,351.0000

Close: 20,216.0000

Mid: 20,291.0000

8

Open: 20,214.0000

Close: 20,225.0000

Mid: 20,267.0000

9
10
11

Open: 20,226.0000

Close: 20,282.0000

Mid: 20,254.0000

12

Open: 20,280.0000

Close: 20,144.0000

Mid: 20,194.0000

13

Open: 20,144.0000

Close: 20,128.0000

Mid: 20,130.0000

14

Open: 20,128.0000

Close: 20,221.0000

Mid: 20,170.5000

15

Open: 20,220.0000

Close: 20,069.0000

Mid: 20,139.0000

16
17
18

Open: 20,067.0000

Close: 20,074.0000

Mid: 20,028.0000

19

Open: 20,071.0000

Close: 20,086.0000

Mid: 20,065.5000

20

Open: 20,085.0000

Close: 20,125.0000

Mid: 20,134.0000

21

Open: 20,124.0000

Close: 20,141.0000

Mid: 20,144.0000

22
23
24
25
26
27
28
29
30

December - 2024

SunMonTueWedThuFriSat
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31

Compare Exchange Rates:

Know What the Best Exchange Rate Looks Like

Benchmark the exchange rate market with Pound Sterling Live's custom currency rate comparison tool with built-in algorithms to find the best rates in the market.

Why

Banks and financial institutions buy and sell currency from each other - these sizeable institutions are 'the market' and the rate they transact at is the 'market rate'. The difference between how much a currency is purchased and sold is the spread, which is essentially the difference between the buy and sell price.

But, when currency is sold by banks to retail customers that spread widens significantly and the profit on the transaction is therefore substantially larger.

Therefore when we focus on the transfer fee when sending money abroad we often miss the biggest cost: the exchange rate spread.

Foreign exchange providers have essentially recognised this and they enter the market to transfer money at tighter spreads, thereby saving potentially significant amounts of money for their clients simply by providing better exchange rates.

For example, the transfer of £100K into euros is expected to attract a rate that delivers between €112,480 and €113,296 with the UK's leading high street banks. But FCA authorised providers will provide a rate that delivers between €115,510 and €115,740 (using rates on 05/07/21).

Taking the time to work with a FCA regulated currency provider could therefore result in the delivery of an extra euros amount of between €2444 and €3030.

Safety is Everything

Pound Sterling Live only works with foreign exchange payment companies that are FCA Authorised. This is important: FCA regulations and oversight requires the money they transfer on your behalf to be protected through a process known as 'safeguarding'. Safeguarding requires the payments company to keep your money separate from their own money in a top-tier bank. Therefore if the provider comes under stress your money should be protected.