All of your Jeeves cards and payments are protected and held to a bank-grade security standard. Although Jeeves is not a bank, your Jeeves Visa and Mastercard cards are secured with enhanced 3-D Secure authentication processes to keep you safe from fraudsters.
In addition, Jeeves implements preventative measures, such as the ability to freeze or unfreeze cards at any time, to prevent unwanted spending.
Where does Jeeves store my funds?
How deposits into a Jeeves Cash account are protected and safeguarded is determined by the location of the legal entity that opened the Jeeves account.
To illustrate, a UK-based company that opens a Jeeves account would have all of its deposits safeguarded in a local, UK-based bank, regardless of which currency account is receiving the deposit. Even if this UK-based company makes a deposit to fund its USD, EUR, or GBP Jeeves Cash account, all deposits will be safeguarded in a local, UK-based bank.
Here is a brief overview of how Jeeves Cash deposits are safeguarded:
United States
Jeeves and its financial partners work with regulated, tier 1 bank and payment providers like Mastercard to provide its financial services. Payment services are powered by Airwallex, a licensed money transmitter which partners with a tier 1 bank for safeguarding customer funds.
Canada
Jeeves and its partners work with regulated Schedule 1 chartered banks and payment providers like Mastercard to provide financial services to its clients. Canadian payment services are powered by Airwallex, a registered money services business in Canada and holds customer funds in a Schedule 1 Canadian bank.
Europe
Jeeves and its financial partners work with regulated, tier 1 bank and payment providers like Mastercard to provide its financial services. Payment services are provided by Airwallex, an Electronic Money Institution (EMI) license holder in the EU that partners with a tier 1 bank for safeguarding of all customer funds.
United Kingdom
Jeeves and its partners only work with regulated tier 1 banks and payment providers like Mastercard to provide its financial services. Payment services are provided by Airwallex, an Electronic Money Institution (EMI) license holder in the UK, which partners with a tier 1 bank for safeguarding all customer funds.