Corporate & Regulatory Status
Odola Ltd registered in England and Wales under company number 16180580, with its registered office at 9th Floor, 107 Cheapside, London, United Kingdom, EC2V 6DN. Odola Ltd is authorised and regulated by the Financial Conduct Authority under the Electronic Money Regulations 2011 (Firm Reference Number 1043609) for the issuing of electronic money.
Important Information for Current Account Holders
While Odola Ltd holds its own Electronic Money Institution (EMI) authorisation, services for existing account holders are currently provided under a partnership with Payrnet Limited in accordance with our Terms & Conditions. In relation to these accounts, Odola Ltd acts as a distributor of PayrNet Limited. Existing customers will be notified directly prior to transitioning to services provided directly by Odola Ltd under its own EMI licence.
Partner Details & Safeguarding Notice
PayrNet Limited is registered in England and Wales (Company No. 09883437), with its registered office at 3rd Floor, Vintners’ Place, 68 Upper Thames Street, London, EC4V 3BJ. PayrNet Limited is authorised and regulated by the Financial Conduct Authority under the Electronic Money Regulations 2011 (Firm Reference Number 900594) for the issuing of electronic money and provision of payment services.
Odola Ltd and PayrNet Limited are electronic money institutions, not banks. E-money balances are not bank deposits and are not protected by the Financial Services Compensation Scheme (FSCS). The electronic money issuer identified in your account terms (PayrNet Limited for current active accounts) is responsible for safeguarding customer funds in accordance with applicable legal and FCA rules. Safeguarding differs from FSCS protection; in the event of an EMI insolvency, fund returns may be subject to delays and distribution costs.
Visa Disclosure
Visa is a registered trademark of Visa International Service Association. The Odola Visa card currently provided to customers is issued by PayrNet Limited pursuant to a licence from Visa Europe Limited.
