Monese protects your account against unauthorised access with breakthrough technologies and processes to ensure that your money is safe and secure at all times. You can only access your account from a single mobile device and if you want to give another device access to your account, you have to manually authorise it through a secure multi-factor authentication process. The app is protected with a secure 5-digit passcode that only you know to prevent anyone else from taking control of you account even if they have access to your device.
If you lose your card or it’s stolen, you can block it instantly in the app. And if you find your card again, it’s just as easy to unblock it. If you’ve ever used your card in an untrustworthy location, you can simply block it and order a replacement card in the app.
Your funds are also protected with Monese. They’re a registered agent of the PrePay Technologies Limited, an electronic money institution authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of payment instruments and electronic money. Unlike banks, Monese doesn’t re-invest your funds and they keep all of their customer’s money separate to their own company finances to guarantee that if they’re no longer in business, their customer’s will receive 100% of their balance back.