The European Deposit Guarantee Scheme (DGS) protection of up to €100,000 only applies to traditional bank deposits. The Account Yield feature works differently.
Once Account Yield is activated, your funds are converted into EURCV and placed into a DeFi-based vault powered by Morpho and secured by audited smart contracts. While this vault is designed to be a low-risk environment, these funds are not covered by the €100,000 DGS guarantee because of this structure.
We always trade EUR to EURCV at par as well - 1:1
❗️Even though Account Yield runs on crypto infrastructure, your payout arrives in EUR and is typically treated as income. You're responsible for declaring it, see our FAQ for details.
If you're not comfortable with this, you can opt out of Account Yield at any time.
Open your profile (tap your photo in the top-left corner)
Go to "Passcode & security"
Select "Opt out of auto-yield."
Take care! It takes effect immediately!