Safety of Clients Funds

Bank accounts in traditional banks

As soon as you put your money on a deposit account, the bank will immediately turn it into loan material. And if it goes out of business, you will only be able to get 100  000 euros back from the insurance. All of this plus long queues and forever busy support lines...

According to Article 7 (1) of the Directive 2009/110/EC

Member States shall require an Electronic Money Institution to safeguard funds that have been received in exchange for electronic money that has been issued. Satchel has an agreement in place with the central bank of Lithuania and deposits clients’ funds there. This way, even in case we go bankrupt, our customers’ money will be safely stored in a separate account in the Bank of Lithuania and will be paid back to the customers in full amount.

EMI are required to deposit the funds received by the clients to segregated accounts, which means that the accounts are separate form AB Advisor/Satchel account. The segregated accounts of the clients are held in the Central Bank of Lithuania so the best guarantee possible as the bankruptcy of the EMI or of a commercial bank will not affect our client’s money.

AB Advisor is totally committed to the safety of clients funds and for this reason since already many years, our experienced professionals consider Lithuania as the most safe environment for banking because of the back up o the Central Bank while in other countries, including in EU and UK, clients funds are easily held for very long time by the EMI or banks for compliance reasons and for the clients is the end of the business.