Ziglu is not a bank but is an Electronic Money Institution (EMI) authorised by the FCA.

What’s the difference?

The world of finance can be confusing, particularly with the arrival of challenger banks, fintechs and banking alternatives.

One of the main distinctions between a bank and an EMI is that banks are allowed to accept customer deposits, lend money, and earn interest on these funds.

An EMI, like Ziglu, can offer a digital account with a lot of the same features you’d expect to see in a traditional bank such as current account, payment transfers, debit card and so on. However, an EMI cannot lend you money or earn interest on your funds.

Ziglu’s status as an EMI allows us to operate more like a technology company and allows us to focus on developing our products and services with a primary focus of delivering a seamless, safe multi currency app that works for you.

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