Where your money is, and how it is protected

• Today RailUp is a pilot and no real money moves. Everything you see uses sample data. Nobody can lose money on it.
• When real payments start, a licensed payment partner holds the money, in accounts kept separate from RailUp's own. RailUp is the product on top.
• RailUp never lends or invests your balance and cannot move it without you confirming with your passkey (Face ID or your device passcode).

In the first phase RailUp works as the agent of a licensed electronic-money or payment institution. That institution holds your balance, sends the payments and answers to the financial supervisor. RailUp keeps its own record of every balance, and the two are matched against each other every day.

The partner is not named yet because the contract is not signed. When it is, its name, licence number and country will be on this page, before any real money moves. If we cannot name one, nothing goes live.

• Safeguarding. Money held as electronic money must be kept apart from the institution's own money, in protected accounts, so that if the institution fails it can be returned to you and is not used to pay its creditors.
• It is not a bank deposit. Electronic money is not covered by the deposit guarantee schemes that protect bank accounts. Safeguarding is a different, narrower protection. We would rather say so plainly.
• Our own bank accounts and the partner's are separate from yours. Yours are never mixed with company money.

This is our understanding of the rules and is being checked with specialist counsel before launch.

• Can't move your money without your passkey, lend it, invest it, or charge you to pay a supplier.
• Can't see your ID photos: we never store them, only the verification result.
• Support staff can look up an account to help you and can pause money movement for security. Every look-up and change is written to a log nobody can edit. A pause never deletes anything.
• Every document RailUp produces for you (payment proofs, control reports) carries a fingerprint. If a figure or name changes later, the fingerprint changes. It shows that nothing was altered; it is not a legal signature.

• Owners, managers and staff each see and do only what their role allows.
• Bills above a limit you set need a second owner. Only approved suppliers are paid.
• You see who entered, approved and paid every supplier bill, and when.
• Passkeys, not passwords: nothing to phish, nothing to reuse.

Banks and business accounts are often criticised for freezing accounts without explanation. We commit to this:

• If we pause your account you will see it, with a reference number.
• You will be told the reason category, and have a person to talk to, not only a form.
• A person reviews every pause within two working days.
• You can always download your data.

For a legal or financial-crime check the law may stop us saying more than that a check is under way. We will say so rather than leave you guessing.