What Do We Do to Secure Your Money?

Crosscard is an electronic money institution (EMI) licensed in Luxembourg and therefore subject to the CSSF (Commission de Surveillance du Secteur Financier). In accordance with regulatory requirements, funds are held in segregated trust accounts (accounts for the account of third parties) at Bank General Luxembourg (EUR) or UniCredit Bank AG (foreign currency).

Customer deposits for third-party account are regularly reported by Crosscard to the CSSF* or verified by it.

In the event of the insolvency of the financial institution, the customer funds must first be distributed to the customers before the insolvency proceedings can be opened.

Customer deposits may not be accounted for as deposits at Crosscard. Crosscard, as an e-money institution, is generally not allowed to engage in deposit-taking activities.

* Commission de Surveillance du Secteur Financier, Luxembourg's financial sector supervisory commission and the competent authority for the supervision of e-money institutions.^[r]