Yuki Pay - Privacy & Security

Yuki works with Swan, a highly regulated electronic money institution - not a credit institution. By legal obligation, the funds of all account holders are stored in a protection account. Your funds are safe and can be retreived at any time.

The following questions are answered below:

• Is Yuki a bank?
• Does Swan have a financial licence that enables companies to issue electronic money in the European Economic Area?
• How are my funds protected in my Yuki Pay account?
• What happens if Swan goes bankrupt?
• How is customer data protected at Swan, and what measures are in place to ensure data privacy?

The answers to a number of questions falling within one of the categories below will be described in separate articles:

• Data protection and Privacy
  (see article FAQ Yuki Pay - Data protection and Privacy)
• Authentication and Access control
  (see article FAQ Yuki Pay - Authentication and Access control)
• Fraud Prevention
  (see article FAQ Yuki Pay - Fraud Prevention)
• Fraudulent Transactions
  (see article FAQ Yuki Pay - Fraudulent Transactions)
• Compliance, Risk management and Regulatory Standards
  (see article FAQ Yuki Pay - Compliance, Risk management and Regulatory Standards)
• Compliance with legal standards
  (see article FAQ Yuki Pay - Compliance with legal standards).

Is Yuki a bank?

Yuki is an accounting platform focused on streamlining and automating accounting processes. This includes financial services such as bookkeeping, invoicing, and workflow automations. All regulated financial services are operated by our banking partner, Swan, which is licensed to provide banking features across the European Economic Area (EEA).

Does Swan have a financial licence that enables companies to issue electronic money in the European Economic Area?

Yes, Swan has an EMI license with which a company can issue payment instruments such as e-money, prepaid cards and mobile payments. An EMI licence is issued by a country’s central bank that allows the holder of the licence to perform a range of such functions.

Swan conducts ongoing regulatory watch to stay updated and compliant with evolving regulatory requirements.

How are my funds protected in my Yuki Pay account?

Yuki depends on a highly regulated e-money institution - not a credit institution. By legal obligation, the funds of all account holders are stored in a special guarantee account registered with a tier-1 French credit institution. Your funds are safe and can be retrieved at any time.

Additionally, the state protects each account up to €100,000 (FGDR - Fonds de Garantie des Dépôts et de Résolution).

Swan doesn’t have any other certifications such as ISO certifications, etc.

What happens if Swan goes bankrupt?

In the event of Swan's bankruptcy, all funds held are protected in a dedicated “safeguarding account” that sits in the books of a tier-1 French credit institution. In the event of this credit institution’s bankruptcy, funds are guaranteed up to €100.000 per account in the same way as all banks in the European Union. Your funds are safeguarded by Swan at BNP Paribas.

How is customer data protected at Swan, and what measures are in place to ensure data privacy?

 At Swan, we are committed to protecting your privacy rights in accordance with the GDPR regulation, which aims to harmonie the different data protection laws across all member states of the EU and the European Economic Area. Read our Privacy and Cookie Policy to learn more.