Is Soldo a bank?

No, Soldo isn’t a business bank account. We do not provide the ability to generate interest on money held in Soldo or offer loan products.

Soldo complements business bank account offerings with innovative spend automation capabilities. We provide:

Soldo cards connected to a powerful management platform. Customers transfer company money, from their business bank account, into a Soldo Main Wallet so that it can be distributed, with proactive control and trust, to employees, teams or projects, so that money distribution is aligned to operational spending budgets.
Soldo Cards then allow them to spend available funds, aligned to operational budgets, as and when needed.
Granular reporting and off-the-shelf integration capabilities with leading accounting and financial system solutions, allow customers to gain insights on business spend e.g. Travel and Entertainment expenses, departmental spend, quickly, to provide the ability for finance teams and budget holders, to proactively manage all forms of company spend.

Soldo Financial Services Ltd is an electronic money institution, authorised and regulated by the Financial Conduct Authority (FCA) under the Electronic Money Regulations 2011 and the Central Bank of Ireland (CBI): this means we have to follow strict compliance processes.  We don’t lend or take risks with customer money, we access it solely to execute the customer’s transactions. Client funds are always protected, as they are completely independent of Soldo’s business accounts and assets. The funds are safeguarded under UK Electronic Money Regulations 2017 and cannot be claimed by Soldo creditors.

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