Yordex works with two third-party providers Bankable and TPL to provide your company cards. TPL (Transact Payments Limited) is a regulated Electronic Money Institution and holds the money in a virtual bank account whilst Bankable provides part of the technical backend. The virtual bank account is your Yordex Master Balance the funds in which are used to top up your physical and virtual Yordex cards.
For the provision of the Yordex physical cards, you enter into a contract directly with TPL, in the form of Payment Account Terms & Conditions and Prepaid Card Terms & Conditions. Yordex utilises the Mastercard payment network for the payments made using physical Yordex cards.
Who holds the funds
All funds sitting on Yordex bank accounts are safeguarded by TPL (a ring-fenced account at NatWest) in accordance with the Gibraltar Financial Services Commission (GFSC) eMoney regulation, with Yordex acting as a distributor for TPL. The funds are not held by Yordex in any way at any time.
If Yordex was to cease its services, you would be able to redeem funds by contacting either Bankable or TPL directly. As TPL is regulated by the Gibraltar Financial Services Commission any funds held with them are guaranteed under the Gibraltar Deposit Guarantee Scheme.
Terms and Conditions
- Yordex Terms of Services
- Yordex Privacy Policy
- Bankable Terms of Services
- MasterCard Terms of Services
- TPL Privacy Policy
- GFSC eMoney Overview
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