Is PayDo Safe and Secure for Global Transfers?

The 30-Second Summary

• PayDo keeps customer funds safeguarded, separate from its own money, as UK rules require for EMIs.
• PayDo accounts are not covered by the FSCS, which applies to banks; safeguarding is how EMI client money is protected instead.
• Several layers of security protect funds and personal data from unauthorised access.

Is PayDo safe? There is an important question to answer. We know the world of finance is a turbulent one. That’s why at PayDo, we’ve made safety and security our top priority as an EMI. PayDo is on a mission to help our clients use a safe and efficient payment ecosystem. 

We provide:

• Dedicated multicurrency IBANs
  • 5 payment schemes
  • 59+ currencies
  • 170+ destinations
• Checkout Solution
  • No chargebacks, rolling reserves, holds
  • Instant settlements
• Mass Payments
  • Instant payouts
  • Automatic payments en masse
• VISA EUR Physical and Virtual Cards
  • For corporate needs
  • For employees

And most importantly, our experts developed all these services with safety and security in mind.

Is PayDo safe in general?

PayDo is safe for managing your finances. You can use it to send money, hold funds, or transact globally. PayDo is a regulated Electronic Money Institution (EMI). The platform operates under the regulatory supervision of the FCA (UK), MFSA (Malta), and FINTRAC (Canada). This ensures that we handle your money securely and responsibly.

What makes PayDo safe and secure?

PayDo incorporates many layers of security to protect your funds and information. From compulsory user verification to PCI DSS Level 1 compliance for merchant services. Our experts designed the platform with your safety in mind.

We made sure to safeguard customer funds.

What is safeguarding?

Safeguarding is a regulatory requirement for EMIs like PayDo. The system keeps all customer funds in top-tier banks separate from PayDo’s business accounts.

You can learn more about the process in our Safeguarding Statement.

How does PayDo protect user funds against fraud and unauthorised access?

PayDo uses robust security measures. These include real-time fraud detection, Face ID/Touch ID, and 3D Secure (3DS) for card payments. These protect against unauthorised access and lower the chance of fraudulent activity.

Is PayDo safe and covered by FSCS?

PayDo accounts are not covered by the Financial Services Compensation Scheme (FSCS), which guarantees users only up to £85,000 if the traditional bank collapses. Instead, in line with UK regulations, PayDo employs mandatory safeguarding measures to protect customer funds. So, even if PayDo goes out of business, you will get 100% of your money back. This approach reflects our dedication to the safety and availability of customer assets without relying on external compensation schemes. 

Can I trust PayDo with my money?

So, is PayDo safe? Yes, you can trust PayDo with your money. PayDo is a regulated EMI. It adheres to strict rules made to protect customers and their funds. With a focus on safeguarding, regulatory compliance, and advanced security features, PayDo is committed to maintaining a safe and reliable financial service for its users worldwide.

Create your Personal or Business Account right away and feel confident in our safe and efficient payment ecosystem yourself.