What regulation does OuiTrust have?
OuiTrust is regulated by the ACPR (Bank of France) and the UK FCA and holds a Hong Kong Money Service Operator license.
Is my money safe with OuiTrust?
As a regulated Electronic Money Institution, all customer funds are safeguarded by our bank partner and covered by the "Fonds de Garantie des Dépôts et de Résolution" (FGDR) up to €100,000.
What can OuiTrust do for me?
We enable companies and freelancers to benefit from a multi-currency account as well as multiple international payment/receipt options (merchant acquiring service, physical and virtual cards, local & international transfers, FX).
How does OuiTrust differ from a traditional bank?
Unlike a traditional bank account, OuiTrust does not allow cash deposits, does not invest its clients' money, and does not offer loans or overdraft authorization but offer much better banking service and less cost on payments and transactions.
What are the advantages of the OuiTrust service?
- If your business chooses to pay zero account management fees, three currencies are available: Euro, British pound, and US dollar; if your business pays for a package of 19 Euros per month, you can access 30+ currencies.
- We connect to the local clearing networks of more than 20 countries around the world. When paying to these 20 countries, the single fee is no more than 3.5 Euros, including the United States, China Hong Kong, Singapore, Canada and Australia.
- Our SWIFT fees are among the lowest in Europe.
- We support self-service card issuance.
- We support graded permissions for different employees.
- We support real-time remittance to China Alipay, WeChat and UnionPay cards.
- We support WeChat and Alipay collections from Chinese customers.
How to Open an Account with OuiTrust?
Opening an account with OuiTrust is simple and straightforward. Follow these steps to get started:
- Download the OuiTrust app from the App Store or Google Play Store.
- Complete the registration process by providing necessary information about your business.
- Verify your identity and business details using the in-app verification process.
- Once verified, you can start using your OuiTrust account for multi-currency transactions and more.
Are there any commissions/fees in addition to the cost of the monthly subscription?
No extra commissions or fees are charged in ordinary circumstances.
If your business does not exceed the transaction volume and services included in your subscription, you will only be charged for the monthly rate of your subscription.
If, however, your business orders additional cards or make additional transactions (over those included in your subscription) additional fees will be charged.
What deposit and transfer methods are supported?
Swift, SEPA, SEPA Instant, Faster Payments, BACS and ACH.
Can I collect and pay a letter of credit (LC)?
No, we currently do not support this service.
Which currencies are supported for OuiTrust debit cards?
Currently, OuiTrust debit cards are available for EUR and GBP accounts only. Other currencies are not supported at the moment.
How long does it take from completing the card application to use?
OuiTrust offers two types of cards: virtual and physical. Virtual cards are activated automatically upon completion of the application, so they are ready to use immediately. Physical cards, however, undergo production and shipping. The time to receive a physical card depends on the efficiency of the card production process and the selected shipping method.
Why was my card application not successful?
In general, card applications are automatically approved unless:
The quantity applied for exceeds the maximum limit. If the quantity exceeds the limit, manual review by our team is required. The maximum card holding limit can be viewed in the "Fees and Limits" section of the card application page.
How to track the courier information?
The card producer typically provides the courier tracking number on the third working day after the card application. Customers can track the courier by clicking on "View Shipping Information" on the corresponding card in the app. Please note that updating courier information is a manual process, so there may be slight delays.
How to activate a physical card?
Along with the physical card, customers will receive an activation letter. Scan the QR code on the activation letter (next to the card area) to access the activation tutorial page. Follow the instructions to input the expiry date, CVC, and other required information to activate the card.
How to activate a virtual card?
Virtual cards are automatically activated upon completion of the application. No additional steps are required for activation.
How to change the card PIN?
Currently, changing the card PIN is not supported through the app or ATM.
Are there transaction fees for card transactions?
No fees are charged for online transactions, POS card swiping, or contactless payments. ATM withdrawals will incur corresponding fees, which can be viewed in the "Fees and Limits" section of the card application page.
What is a "merchant acquirer"?
Merchant acquirers are the companies that handle card payments. An "acquiring service" gears up your business to take payments by card. WeChat and Alipay are giant merchant acquirers whose services you can access with OuiTrust. What's the exchange rate when spending abroad or online by Mastercard debit card? The real-time exchange rate from Mastercard will be applied and presented in each transaction. Find more details here.
What is authorized push payment (APP) fraud?
APP fraud is a type of scam where criminals trick individuals or businesses into sending money to a fraudulent account. As the volume of online transactions continues to grow in every sector, businesses globally are increasingly concerned about the rising risk of APP fraud. The latest figures show £239.3 millionwas lost to APP scams in the first half of 2023, which comprised £196.7 million of personal losses and £42.6 million of business losses. Click Warning and Tips for Beating APP Fraud for details to help protect yourselves against APP fraud.
How to make a complaint?
- If you have a complaint, the best way is to contact us via the in-app chat. Alternatively, you can contact the Complaints team at complaints@ouitrust.com
- For any other enquiries, please visit our Help Center or contact us via the in-app chat.
- Once we have received your complaint we will acknowledge this via email. We will then investigate all the details of your complaint, and issue our response within a couple of days, but this can take up to 15 business days. If you are not happy with our resolution you can refer your complaint to the Financial Ombudsman Service
What is the relationship between OuiTrust and Harmoniie SAS?
- OuiTrust is the commercial name of Harmoniie SAS (Société par actions simplifiée), a simplified joint stock company under French law. Harmoniie SAS is registered at the Paris Trade Register (n° 833 165 863) and headquartered at 1 Rue de la Bourse, 75002 Paris, France.
- Furthermore, Harmoniie SAS operates as an Electronic Money Institution authorized by the French supervisory authority Autorité de Contrôle Prudentiel et de Résolution (ACPR) (license N°17478).
- This relationship allows OuiTrust to benefit from the expertise, resources, and reputation of Harmoniie sas while maintaining its own distinct identity and offerings. Working together, Harmoniie sas and OuiTrust collaborate closely to deliver innovative solutions and exceptional services to our clients.
