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Where is the money held?
Where is the money held?
Written by Jicelle Kameyama
Updated over a week ago

Your funds will be held in a protected client pool account with Mashreq Bank in the UAE. The account will be in the name of our fintech partner Nymcard.

Nymcard is regulated by the Central Bank of the UAE under the Retail payment services and card scheme regulations under License identification number and is obligated to comply with CB regulations - in particular the ones relating to the safeguarding client monies.

The funds will not be accessible to Alaanpay and will be strictly used only for spend using your corporate card and are reconciled on a daily basis.

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