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 Accounts tab and tap on the Settings icon on the top-left corner of the screen. Select 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 general 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 Settings page found through the Accounts 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

  • Know Your Customer (KYC) is a EU-wide financial service regulation that requires the verification of your identity. It is part of EU and local Anti-Money Laundering legislation, sanctions laws and is required for services under the Payment Services Directive 2 (PSD2). KYC aims to prevent corruption, terrorism, fraud and money laundering, and keeps financial services safe, clean and secure.

  • Basically, we need to verify that you are who you say you are. Your submission is validated against policies imposed on us under AML financial service regulations. KYC enables Yolt to be kept safe and will support the development of even more features to improve your Yolt experience.

  • To continue using Yolt, you will have to go through ID verification. If you don’t submit the required information or if your submission is rejected, we’re legally prevented from giving you access to Yolt and you’ll be unable to continue using the app.

  • The process of KYC is simple and your submission should only take a few minutes to complete. You’ll be guided through the following steps:

    1. Snap a selfie

    2. Answer a few questions (e.g. nationality and residential address)

    3. Upload a photo of an official document (we’ll let you know what document type is required)

  • KYC submissions are reviewed between Monday to Friday 6am - 10pm, Saturday and Sunday 8am – 8pm. Once submitted, you’ll receive a notification to let you know if your submission was successful, rejected or if more information is required.


  • Yolt has been designed to provide you with smart insights while also keeping your details and data private.

    The data you provide to us is safely stored in highly secured environments. 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. Our technology suppliers are also bound by the same standards and measures. Your data is always stored within the European Union.

    Here’s an overview of our main licenses:

    • We are supervised under GDPR by the European data protection authorities

    • We are a licensed Third Party Provider under UK Open Banking

    • We are supervised by the European Central Bank via ING Bank N.V

    You can read more about our data, privacy, and security measures at www.yolt.com and in our privacy policy on www.yolt.com/privacy.

  • No, we respect your privacy and 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.

  • • If your ID verification is successful and you are accepted, you may continue using Yolt.

    • If more information is required, this could be due to a number of reasons including: mismatched data, incorrect or damaged documents or that your selfie does not meet the necessary requirements. Please check the reason listed in the app and try again. If you require further guidance, get in touch with our customer support team at hello@yolt.com.

    • If your submission has been rejected because we are unable to identify you, authenticate your identity or validate your identity against our KYC and risk management framework, your account will be suspended and you will no longer have access to the Yolt app. You’ll be able to export your data from the settings menu in the next 60 days. After this point, your account and data will be deleted in accordance with GDPR.

  • No. There can be several reasons why a submission might be accepted or rejected. These are based on KYC legislation, our policies, risk management framework and our business decisions. We are prevented from disclosing specific details about a submission. As we provide our service through a mobile app and to a large number of users across multiple markets, we are not able to repeat the KYC checks, conduct them in another way (such as visiting a bank branch) or apply any enhanced due diligence to investigate further.

Yolt Pay

  • Yolt Pay, currently in beta, is our new payments feature which lets you initiate money transfers between your accounts and pay others using Open Banking APIs. You can now keep track of your accounts in the app and move money between them to help keep you on top of your spending!

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

    We respect your privacy and personal information. Yolt has been designed to provide insights while also keeping your details and data private. Yolt is a venture of 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).

    Yolt Pay uses secure Open Banking APIs to initiate payments and transfers from your accounts. In order for a payment to be processed you’re directed to your banks online banking portal to confirm the payment initiation with your bank.

    Here’s an overview of our main and licenses:

    • We are a registered data controller (ICO Data Protection Register in the UK)

    • We are a licensed Third Party Provider (Open Banking TPP) https://www.openbanking.org.uk/customers/regulated-providers/yolt/

    • We are supervised by the European Central Bank through our mother company ING

    • We use the most up-to-date encryption technologies

  • As Yolt Pay is currently in beta, we’re gradually releasing support for banks and accounts in order to squish any unwanted bugs and perfect the experience for all our users. At the moment, only certain current accounts supported by Open Banking can be used to initiate a payment via Yolt.

    Can’t see your bank on the list? You can drop us a line at hello@yolt.com to set up an alert for your bank, we’ll then give you a nudge as soon as we’ve added support.

  • Yolt Pay, currently in beta, allows you to transfer money between your accounts and pay people you know. To Pay someone all you need is their name, sort code and account number.

    Read more about Yolt Pay, and which accounts you can transfer from here.

  • Payment Initiation is a regulated financial service and 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.

    To continue keeping track of your spending and use our payments feature, we need you to verify your identity. It only takes 5 minutes!

    Check out how to get started here.