News Update

written on May 10, 2022

We would like to thank all our clients for the overwhelming support since our launch. Moneybase is leading the way when it comes to innovating how people can manage their finances. Our goal is to make money simple for our clients by providing a great experience from both a technological and customer service perspective.  

Whilst we continue to work on some exciting new functionality, we have taken some time to provide you with some more information about who we are and what it is that we do! Read on to find our more.

How do I open a Moneybase account?  

Just download the Moneybase app on iOS or Android and sign up! You can find our terms and conditions here to see if you are eligible to open a Moneybase account.  

Is Moneybase a bank?  

Moneybase is not a bank. We are a licensed Financial Institution, authorised by the Malta Financial Services Authority to provide payment services and issue electronic money. We have passported all our services throughout the European Union (EU) and the European Economic Area countries (EEA).   

As a Financial Institution we do not conduct certain services which a bank typically offers, such as taking customer deposits and granting loans out of those deposits. Our offering is focused on bringing you the best available technology to make money simple by solving your payments headaches.  

What is electronic money and how do I use it?  

Electronic money is a digital alternative to traditional cash. It is the equivalent value of real money but it is stored electronically. You can use your electronic money on your Moneybase account by making payments through the Moneybase app such as SEPA payments with your own IBAN, card payments or even person-to-person payments if you and your friends both have a Moneybase account.  

Is my money safe with Moneybase?

Yes, it is safe, because there are several regulatory restrictions intended to safeguard your account against the risks to which your money can be exposed. Since we are not a bank, we do not lend any of the money that you place in your payment account or your electronic money account. As a result, your money is always protected and Moneybase is not required to contribute towards the Depositor Compensation Scheme for the protection of your money, as would be the case with traditional banks.

Because we never lend your money to others and any loans or overdrafts granted to you are issued out of our own capital, your money’s risk exposure is low. All customer funds are banked with reputable banks in the European Union, in duly designated segregated client accounts, in accordance with our legal and regulatory obligations as a licensed Financial Institution. Besides, your card transactions are also protected by the Mastercard or Visa rules.

Can I use money held on my Moneybase account in shops?  

Yes, of course you can. You just need to sign up for a Moneybase card. A Moneybase card will allow you to make in-store and online payments using the latest 3DS2 technology, which is both convenient and secure. You can also use your Moneybase card to withdraw cash from ATM machines. Our cards will also give you access to the Mastercard network globally.  

How much does it cost to use Moneybase’s services?  

Opening a Moneybase account is free and comes with a number of free services included. Our fees can be found here.  

Can I speak to someone to guide me through your offering? 

Our dedicated ISO9001 certified customer support team is always available 7 days a week to assist you with any other questions you might have.  

Redefine the way you grow and manage your money today!

Life’s full of mysteries. Your money shouldn’t be one of them.

Redefine the way you grow and manage your money today!

Life’s full of mysteries. Your money shouldn’t be one of them.