What regulations apply to my Neno account?
Neno is not a traditional bank — it is a fintech platform that provides banking services in partnership with a licensed electronic money institution (EMI) authorized and supervised by the ACPR (Autorité de contrôle prudentiel et de résolution), the French banking regulator under the Banque de France.
This means your account is subject to:
EU E-Money Directive — Requires fund safeguarding (your money is held in segregated accounts, separate from operating funds)
PSD2 (Payment Services Directive 2) — Governs payment services, Strong Customer Authentication, and consumer rights
Anti-Money Laundering (AML) regulations — Requires identity verification (KYC) and transaction monitoring
GDPR — Your personal and financial data is protected under European data protection law
Your funds are protected under the French Deposit Guarantee Scheme (Fonds de Garantie des Dépôts et de Résolution), which covers deposits up to €100,000 per depositor — the same EU-wide protection standard.