Regulatory Licenses

In the United Kingdom, NALA Payments Ltd is a registered EMD agent of Modulr FS Limited, which is an Electronic Money Institution authorised by the Financial Conduct Authority with firm reference number 900573. Electronic Money products are not covered by the Financial Services Compensation Scheme (FSCS). Customer funds will be held in one or more segregated accounts and safeguarded in line with the Electronic Money Regulations 2011. For more information please see Modulr’s UK Safeguarding Explanation here.

In the European Union, NALA Payments Netherlands B.V. is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by De Nederlandsche Bank (DNB) as an Electronic Money Institution (relationship number R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. Your funds will be held in one or more segregated accounts and the full value safeguarded in line with the Financial Supervision Act – for more information please see this link.
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In the United States, NALA Payments LLC partners with Evolve Bank & Trust (member FDIC) to provide payment and banking services. NALA Payments LLC is a financial technology company, not a bank. Nala Payments LLC (NMLS: 2530895) is registered with the United States Treasury Financial Crimes Enforcement Network as a Money Services Business (MSB: 31000259865843) at 221 River St, 9th Floor, Hoboken, NJ 07030.