How Bueno Keeps Your Money Safe

At Bueno, your money is always secure. Our services are powered by SEFIDE EDE S.L.U., a trusted electronic money institution authorised by the Bank of Spain (Reference: 6705). SEFIDE safeguards your funds, ensuring they’re always protected and separate from any business operations. Bueno cannot access your money directly.

Regulated & Trusted

While Bueno isn’t a bank, we’re regulated under the same stringent payment regulations that apply to banks. The key difference? Bueno and SEFIDE never lend out your money. Your funds are held securely and 100% safeguarded for your exclusive use. Every month, the Bank of Spain reviews SEFIDE’s reports to ensure compliance, including checking for any signs of illegal activity like money laundering.

How We Protect Your Money

To safeguard your funds, SEFIDE follows strict legal guidelines. All customer funds are kept in separate, specially designated accounts at trusted banks. This means the money you deposit is not mixed with company funds and is never used for anything other than your needs. Additionally, SEFIDE is required by law to hold extra funds, an additional 2% of total customer funds, as a cushion in case of any business issues, ensuring an orderly wind-down and full return of funds if ever needed.

No Surprises: Complete Transparency

While e-money services like Bueno don’t fall under the Deposit Guarantee Scheme (which protects bank deposits up to €100,000), it will apply for accounts held by SEFIDE. Our safeguarding regulations go even further. All customer money held by us is segregated from all other funds that we hold and cannot be used for any other purpose. The regulatory requirements outlined above are designed to protect the entire balance of customer funds, as opposed to only compensating up to a maximum limit, as is the case with the Deposit Guarantee Scheme.

Where is Your Money?

Your money is held in Spanish bank accounts that are reserved exclusively for customer deposits. This ensures that only you have access to your funds, and they remain separate from those of other customers. Your money is safe, and you’re always in control.