All about Security


Yolt and Security

  • At Yolt, safeguarding your data is one of our core values.

    Yolt was designed to be the only money app you need, providing smart insights but also keeping your details and data private and secure.

    Yolt is a regulated Third Party Provider (TPP) and as such holds a license to operate within Open Banking.

    Yolt is a venture by ING Bank and is subject to the same security and privacy standards applicable to a bank. ING (hence Yolt) is licensed by the Dutch National Bank (DNB) and as such we can be found on the FCA register

  • • We are a registered data controller (ICO Data Protection Register)
    • We are a licensed Third Party Provider (Open Banking TPP)
    • We are supervised by the European Central Bank
    • We use the most up-to-date encryption
    • We do not sell your data to third parties
    • We regularly run penetration and security tests to ensure your data is protected.
    • We are a venture by ING Bank, and must meet the same privacy and security standards applicable to a bank.

    If your bank is one of the many in the Open Banking initiative, you’ll be redirected to your own bank’s authorisation screen or app (using OAuth certification) to confirm and authenticate the connection to Yolt.

    On occasion, APIs are not yet available for some accounts. For that we use a data partner which has been arranging the secure handling and processing of user details for many years in the UK and other countries around the world.

  • Yes. Yolt is a licensed Third Party Provider and, as a venture of ING Bank N.V, is regulated by the Dutch Financial Authorities and we can be found on the FCA register by clicking here.

  • Yes! As of the 13th of January 2018, all banks and building societies in the UK are making their customer data accessible to regulated and licensed third parties such as Yolt. Nine of the biggest banks and building societies will provide this data using APIs for current and personal accounts, as will some others, and for accounts without an API we use a trusted data partner.

Yolt and Your Data

  • For Open Banking, your login credentials are never stored on our servers. Your transaction data, balance, and other data you share with Yolt is stored using state-of-the-art encryption so that you can use the app. 

    That's why we ask you to unlock Yolt using a PIN, fingerprint or FaceID. To prevent unauthorised access or disclosure, we have physical, electronic and operational measures in place, which secure the user information that we hold. We have run appropriate penetration and security tests to ensure your data is protected using bank grade security. 

  • For Open Banking, your login credentials are never stored on our servers. Your transaction data, balance, and other data you share with Yolt is stored using state-of-the-art encryption so that you can use the app. That's why we ask you to unlock Yolt using a PIN, fingerprint or FaceID. To prevent unauthorised access or disclosure, we have physical, electronic and operational measures in place, which secure the user information that we hold. We have run appropriate penetration and security tests to ensure your data is protected using bank grade security. 

  • When you add your account you'll securely sync the following:

    Transactions (usually the previous twelve months, depending on your bank)
    Account Balance
    Direct Debits and Standing Orders
    Basic account information, such as overdraft limit, interest rate, monthly account fees.

    If you are syncing with Yolt via Open Banking, you will not be asked to share your password, other than with your bank. If you use the normal sync route, you’d sync your accounts within Yolt itself.

  • We respect your privacy and personal information. Yolt has been designed to provide insights while also keeping your details and data private. We will therefore only use the information that you agreed to share with us to further develop the app and provide other useful services to you. We do not sell your data.

  • You can delete your account at any point. We will remove your data from our systems in accordance with data protection regulations.

    The quickest way to delete your Yolt account is by heading over to More > Your Profile > Delete My Account. Follow the on-screen instructions to delete your account and all associated data.

  • Yes. We can do this for you. Please email us at hello@yolt.com. Remember to include: Your name, phone number, and email address to verify your identity.

  • No

    We respect your privacy and do not sell your data.

  • If you do decide to leave us, your personal data is deleted in accordance with government data protection regulations (GDPR).

    Please note that if you only delete the app off your phone, and not the Yolt account itself, Yolt would still have your details on record. You must ensure that you delete your account by heading to the Your Profile section in the More tab to delete your account completely.

  • At Yolt, we regularly run appropriate penetration and security tests to ensure your data is secured. As a licensed and regulated TPP, and as a venture of ING Bank N.V. we are held to the same security standards as any bank. To prevent unauthorised access or disclosure the data in our app is protected with bank level security using physical, electronic and operational measures.

    As a user, you should protect your device and the contents within it. Yolt is protected by a fingerprint, PIN code or facial recognition.

    We would never contact you to ask you to confirm or provide us with account information, passwords, PINs or other personally identifiable information.

    If you lose your phone, you can get in touch with us and we can remotely delete your account.

  • Your phone number is an easy way to verify that you’re a real person. We send you a temporary security code during onboarding that activates the app before requesting a 5-digit PIN.

  • Due to security reasons, we cannot reset your PIN. This means you’ll have to get your recovery code (instructions below) and re-install Yolt. You'll be prompted to insert your code in the onboarding screen, and you'll be right back up and running.

Identity Verification

  • Here at Yolt, we’re busy building our Payment services and our marketplace of partners, and therefore we are now subject to a regulatory requirement known as ‘Know Your Customer’ (KYC).

    Under KYC, Yolt is legally required to verify your identity with official documents, like a passport, driver’s licence, or ID card. It aims to prevent corruption, fraud and money laundering, and keeps financial services and your money secure. It is part of worldwide Anti-Money Laundering legislation and sanctions laws aimed against terrorists. Know Your Customer aims to prevent corruption, fraud and money laundering across financial services. By verifying your ID, we can work together to make Fintech better for everyone.

    Just like banks, payment service providers and other financial institutions, if we cannot verify your identity we are legally prevented from giving you access to Yolt. These laws are the same for all services like Yolt. That means, if your identity cannot be verified, you’ll be unable to continue using Yolt.

    To continue keeping track of your spending and savings, we need you to verify your identity via the Accounts tab in Yolt. It only takes 5 minutes!


  • Usually it takes around 5 minutes to verify your account and give you access to Yolt. Accounts are verified Monday to Friday 6am - 10pm, Saturday and Sunday 8am – 8pm. So, if you’ve submitted your information outside these hours, we’ll be sure to give you a nudge when you’ve been approved (just make sure your push notifications for Yolt are enabled).

  • No, we do not sell your data. One of our core values is that we do not sell your data. We will use this information to verify your identity and where relevant, to update the data we hold about you. If you want to reuse this data on the Yolt Platform for other purposes (e.g. if you would like to register with a specific partner or connection that also needs to verify your identity) you can, but we will always ask for your explicit consent. You can read everything and more in our Privacy Policy: www.yolt.com/privacy

  • Safeguarding your privacy and personal information is one of our core values. Yolt has been designed to provide insights while also keeping your details and data private. We do not sell your data.

    The data you are providing to us will be stored at Yolt, in a secure environment. As a licensed and regulated payment service provider, and as part of ING Bank N.V., we are held to the same security standards as any bank. To prevent unauthorised access or disclosure the data in our app is protected with bank-level security using physical, electronic and operational measures.

    • We use the most up-to-date encryption

    • We do not sell your data

    • We regularly run penetration and security tests to ensure your data is protected.

    • We are a venture of ING Bank N.V and meet the same privacy and security standards as a bank.

  • To continue enjoying Yolt, you will have to go through ID verification. Without it, you will eventually be locked out. We’ve made it as quick and easy as possible, so it should take less than five minutes.

    Just like banks, payment service providers and other financial institutions, if we cannot verify your identity we are legally prevented from giving you access to Yolt.

    Read more about the how and why on our blog.

  • Since Yolt began back in 2016, more regulation on financial services have come into play. Now a new EU regulation called PSD2 has been implemented that further regulates financial service providers like Yolt: So our users now have to verify their identity with an official document - just like you would have to if you were opening a bank account.

    Verifying your identity is part of this 'Know Your Customer’ (KYC) regulatory requirement, which aims to prevent corruption, fraud and money laundering.