OYAL ACCOUNT FAQ’s
Where can I view my sort code and account number?
Click ‘My Settings’ from the home page and then ‘Account Details’.
Does my account earn interest?
No. As we are an eMoney provider and not a bank, you don’t earn interest on your account.
Can I set up direct debits/standing orders on my account?
For direct debits, simply give your OYAL sort code account number to who you are setting the direct debit up with. Standing orders coming shortly.
What are my transfer limits?
You have a daily ‘transfer in’ limit of £10,000 and daily ’transfer out’ limit of £20,000.
What if I suspect that fraud has occurred on my account?
If you ever suspect that fraudulent activity has occurred on your account , contact Customer Services by calling 07537 181830 immediately.
How are my funds safeguarded?
Clients are issued with e-money accounts through Modulr Finance. These accounts have an account number under one of Modulr’s Sort Codes, or an IBAN associated with Modulr’s bank identifier code (BIC). These e-money accounts are provided under Modulr FS Ltd’s license as an AEMI (FRN: 900573).
In line with Modulr regulatory requirements, 100% of client funds related to the e-money that Modulr FS Ltd has issued are segregated from Modulr’s own funds and are held within designated Client Money Accounts with their clearing bank.
This means 100% of client funds are protected from any risk associated with Modulr’s solvency.