Nook takes security very seriously, find out how in this article
Are my funds safe in a Nook wallet?
Funds transferred to your Nook Wallet are held by our financial services provider The Currency Cloud Limited, an FCA-regulated entities.
Funds are safeguarded by our FCA-regulated e-money partners at a credit institution. These funds are bankruptcy remote from Nook and our financial services providers.
Only you are permitted access to your funds. Nook cannot take any risk with your money, and we can’t lend it out as traditional banks do.
The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (reference number: 900199)
Is Open Banking safe?
Open Banking requires the user to be an authorised account holder by the bank to make payments or transfer funds to your Nook Wallet.
Further, Open Banking uses Industry-leading security with rigorously tested systems. You’ll never be asked to give access to your bank login details or password to anyone other than your bank.
Lastly, Open Banking is regulated – only products regulated by the FCA or European equivalent regulator can use Open Banking (such as Nook).
What security measures does Nook have in place?
Nook is protected by Industry-leading security with the following features:
- Single-sign-on (SSO) with Xero, Intuit, Sage, Google and Microsoft
- Mandatory Multi-Factor-Authentication (MFA)
- Support for biometric (device dependent)
- Strong passwords enforced
- Fully auditable access logs
- Infrastructure is hosted in Amazon Web Services (AWS Europe), which is accredited to ISO/IEC 27001:2013, SSAE 16 SOC 1, SOC 2 Type 2, PCI Level 1, FISMA Moderate and SOX standards.
- All data encrypted in transit and at rest
- All technical systems undergo regular security reviews, including active penetration testing
How is Nook regulated?
Nook is a trading name of Payaable Limited (12921042)
Payaable Limited (T/A Nook) is an EMD Agent of The Currency Cloud Limited. Payment and e-money services are provided by The Currency Cloud Limited. Registered in England No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currency Cloud Limited is authorized by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199);
How can I report security vulnerabilities
If you think you have discovered a problem, please contact us at security@nook.io. We investigate all reported vulnerabilities rapidly and rigourously.