FAQ
Safety and Security
Is my money safe?
Yes. Your money is kept in a safe custody account in the bank (our partners are Standard Bank and FNB), regulated by the Banks Act and supervised by a Financial Services Compliance Authority (FSCA). Only you can touch your money.
SOL app is linked to your phone number by an OTP, protected by PIN/fingerprint/FaceID and device-specific encryption keys. If you lose your device, no one can access your SOL account without your PIN. And you can restore your SOL account into a new device.
Your card balances are carefully stored in a dedicated Standard Bank account. Card is seriously secured - Chime 128-bit AES encryption, access control and security processes to protect your sensitive information and prevent unauthorized use.
Only you can transact with your money in your SOL account. No debit order or any other 3-rd party charge can be placed against your SOL account.