Yes, it is.
The safety and protection of the funds you have with Finom are ensured by two main factors:
Who are our partners?
To assure high standards of service, security and efficiency, Finom chose the licence very carefully, and enters the market in France with the support of Treezor.
Treezor is certified and approved by BaFin and ACPR in providing a banking solution.
Not only do we assure the highest level of security for your money, we make sure that the funds you place in your Finom business account are guaranteed up to 100,000€.
As our partner Treezor is an electronic money institution, and therefore not a member of the FGDR (The Fonds de Garantie des Dépôts et de Résolution), funds are protected through a ring-fence account opened at a credit institution in which these funds are segregated. In the event of bankruptcy of Treezor, customer funds are protected by these arrangements as required by law (Article L.522-17 of the French Monetary and Financial Code).
In the unlikely event that the credit institution in which Treezor has opened a ring-fenced account enters bankruptcy, the FDGR would intervene . The FGDR's deposit guarantee would apply to the entire ring-fenced account, up to a limit of 100,000€ for each Treezor client.