Snappi is the first Greek neobank to obtain a banking license from the European Central Bank (ECB). This license allows us to offer both personal and professional banking in Greece and throughout the EU. But why is that important and why should you care? 

We want to give you the highest level of confidence in your banking with stringent security measures that only a banking license can afford. This is why our first step in launching our digital bank was to secure our universal banking license from the ECB.  

We’re more than just a great finance app. We want to offer you the best personal and business banking experiences anytime, anywhere. 

Getting a license wasn’t easy 

An ECB banking license not only authorizes us to call ourselves a bank, but it also allows us to offer full banking services across all of the EU.  

Your standard mobile “money” app does not qualify as a bank. There’s a sea of budding fintech across Europe thanks to massive digital adoption by tech-savvy citizens. But, with rising scams and frauds, you need to know that your money is safe. 

An ECB banking license makes banking with Snappi a confident and secure experience.  

Here’s what it takes 

To get a banking license, we had to demonstrate prudence and high level of quality by: 

• Demonstrating our ability to maintain sufficient capital. 

• Meeting all regulatory requirements. 

• Undergoing regular internal and external audits. 

• Adopting robust security and reporting practices. 

• Adhering to all existing and emerging compliance standards. 

Keeping your funds safe and our services competitive is crucial to us. 

It’s Important 

Having a banking license means we can provide you with the full range of personal and business banking services that a traditional bank does. That too, with the trust of the Bank of Greece and European Central Bank. A banking license means we can offer: 

• Various account types 

• Credit services 

• Card services 

• Safe deposits 

• Currency exchange 

• Investment services 

• Seamless money transfers across the EU 

Plus, you get all that at your fingertips, from the comfort of your home. You don’t even need to visit us. We are a completely digital bank. 

A banking license should matter to you 

This is because: 

• Your deposits up to €100,000 are protected by the Hellenic Deposit and Investment Guarantee Fund (TEKE) against bank account fraud, financial theft, etc. 

• Your data is protected with stringent security measures across cloud storage and transfer channels. 

• Transferring money with SEPA standards is fast, reliable, and effortless. 

• You can use all Snappi personal and business banking facilities across the EU, just like you do in Greece. No hidden charges or conditions. 

Having a banking license means we comply with: 

•  PSD2
• GDPR
• ISO 20022
• AIA

 Perks of going digital with Snappi 

Being a neobank, Snappi has more to offer. We deliver a mobile banking experience that fits in with the way you want to live – with freedom, convenience, and ease. Here’s what else you get:  

• Ready to use virtual and physical debit cards. No waiting period, and no package delays. 

• Quick and effortless account top-ups through your chosen channel. 

• No more late fees or missed payments with direct bill payments in a few taps. 

• Outstanding bill payment instructions. We also send reminders so you can maintain sufficient balance. 

• Regular monitoring on-the-go to help you stick to your budget and avoid impulse buys. 

• Split bills and pay later, for when unplanned expenses come up. We understand and are prepared to help you navigate them. 

Making banking a positive experience 

Eliminating your worries about the security of your funds and data is our way of making banking joyful for you. Employing industry best practices, such as secure cloud infrastructure, multi-factor authentication, and data encryption, keeps our tech innovators enthusiastic. Plus, keeping up with compliance mandates keeps us resilient to threats. Making mobile banking effortless for you, makes us happy at Snappi.