This means you would get most of your funds back, except for the costs deducted by the insolvency practitioner for returning the funds to the customers. In the event of Paynetics going out of business, an insolvency practitioner would be appointed to return the funds Paynetics has safeguarded to the customers. However, in the event of an insolvency, your funds would remain in the safeguarded account at the designated Bank and separated from Paynetics’ accounts. In this process Paynetics keeps your money separate from its own money and place it in a safeguarding account with a Bank.Įlectronic Money issued is not covered by any Deposit Guarantee Scheme which is a government backed scheme offering protection to customers’ funds of up to €100,000 (£85,000 in the UK under the FSCS) per customer. To ensure your funds are safe Paynetics follow a process known as ‘safeguarding’ which is a regulatory requirement for all EMIs. Any funds unspent can be returned to the account which funded the card upon request. The Allstar Visa card enables us to obtain better pricing by not requiring. The Payment account and Mastercard cards are issued by Paynetics AD (via Paystratus Group Ltd, a Technical Provider of Paynetics AD) with company address 76A James Bourchier Blvd, 1407 Sofia, Bulgaria, company registration number 131574695 and VAT BG131574695, pursuant to license by Mastercard International Incorporated and Bulgarian National Bank. Allstar Expense, the Visa card that gives your business a better way to pay. There are other optional cookies that show us how the sites used, let us improve the experience you get, and help us with our marketing. As daily expenses stay high due to inflation, more Americans are relying on credit cards to make ends meet and fewer are able to pay their bills in full at the end of the month. Tell us how Fintwist can help your organization today. ![]() Please note that when your Sort Code is 040738 or the IBAN visible in your Muniy App has the following format GBxxPATC040738XXXXXXXX – your payment account is provided by Paynetics AD. Fintwist Corporate Expense Cards can be used by employees like a credit card, while allowing you. Open Banking is provided by Fena Labs Ltd is authorised and regulated by the Financial Conduct Authority (#934835) ![]() Muniy Limited is a company registered in England and Wales with the registered company number 11191944 and its registered address at Kemp House, 152-160 City Road, London, EC1V 2NX
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