How does Yolt keep my money safe?
• We adhere to the EU regulation known as Know Your Customer (KYC). During the onboarding process we’re required to check your identity when you sign up for a Yolt account. We check for things like impersonation, ID tampering etc
• We have a strong recovery process in place. This means, no one can log into your Yolt Account from a different mobile phone. To access your Yolt Account from a new phone, you need to use your recovery code, recovery password or prove your identity with a selfie
• You always have full control of your Yolt Card from the Yolt app. You can instantly freeze and unfreeze your card, report it as lost or stolen and request a replacement
• We’ll always ask you to enter your passcode for things like transferring money, updating your credentials, and even accessing your privacy data
• Contactless card payments have a transaction limit of £45. Every 5 contactless transactions, you’ll need to enter your PIN in the machine to confirm it’s really you
• We restrict high-risk transactions on the Yolt Card
• We have advanced measures to monitor and detect suspicious transactions, in line with the anti-money laundering regulations. If we suspect something’s wrong, we’ll flag the account and inform you
• We’re a licensed third-party provider, supervised by the European Central Bank, regulated by the Dutch Financial Authorities and we’re on the FCA register too.
• We use 256-bit encryption. This means, your data is encrypted and can’t be accessed if there’s a data leak. Find more on this here.