FAQ Yuki Pay - Compliance, Risk management and Regulatory Standards

The following questions are answered below:

• Does Swan have a financial licence that enables companies to issue electronic money in the European Economic Area?
• Is Yuki a bank?
• How are my funds protected in my Yuki Pay account?
• What happens if Swan goes bankrupt?

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.

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

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).

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.