Altery EU Limited is an electronic money institution authorised and supervised by the Central Bank of Cyprus (CBC). It is not a bank.

Eligible customer funds held with Altery EU Limited are safeguarded in accordance with the Electronic Money Laws of Cyprus and the applicable Cyprus and EU payment-services legislation.

The safeguarding requirements are designed to ensure that eligible customer funds are kept separate from Altery EU’s own funds and protected against claims from other creditors, including in the event of insolvency.

Safeguarding applies to funds received in exchange for electronic money and to funds held in connection with payment services. Depending on the applicable requirements, funds may be held in segregated customer-funds accounts or protected through another safeguarding method permitted by law.

Safeguarding generally continues until the funds are redeemed, paid to the recipient or transferred to the recipient’s payment-service provider, where applicable.

Safeguarding is different from bank deposit protection. The Cyprus Deposit Guarantee Scheme does not cover customer funds held with Altery EU Limited. Safeguarding does not provide a fixed compensation limit or guarantee immediate repayment. If an institution becomes insolvent, the return of safeguarded funds may be subject to applicable insolvency procedures, reconciliation of records and any legally permitted costs.

For more information, please see the Electronic Money Laws of Cyprus and the CBC information on payment institutions and payment services.