Safety and Security
Is my money safe?
Yes. Your money is kept in a safe custody account in the bank, regulated by the Banks Act and supervised by a Financial Services Compliance Authority (FSCA). Only you can touch your money.
SOL app is linked to your phone number by an OTP, protected by PIN/fingerprint/FaceID and device-specific encryption keys. If you lose your device, no one can access your SOL account without your PIN. And you can restore your SOL account into a new device.
Your card balances are carefully stored in a dedicated Standard Bank account. Card is seriously secured – Chime 128-bit AES encryption, access control and security processes to protect your sensitive information and prevent unauthorized use.
Only you can transact with your money in your SOL account. No debit order or any other 3-rd party charge can be placed against your SOL account.
Is SOL a bank?
- SOL is not a bank, it’s an app to manage your money, while money is stored in a secured bank account. All payment services are provided by 3rd parties – authorized FSPs.
- SOL Wallet headquarters are incorporated in Cyprus – AK SOLWALLET SERVICES LTD, reg. no HE 402392. Address for correspondence: Arch. Kuprianou & Agiou Antreou 1, LOUKAIDES BUILDING, 2nd floor, office 21, Limassol, Cyprus, 3036.
- South African branch – AK SOLWALLET SERVICES LTD, CIPC reg. no 2019/570828/10. Address for correspondence: 77 Andre Brink Street, Vorna Valley, Midrand, Gauteng.
How do I change my SOL pin?
There is an option to change your SOL app/transaction PIN in the app’s Settings. For SOL Card PIN – there is an option to change it in the card settings screen (small fee applies).
Changing fingerprint/FaceID authentication
CASE: I lost my phone
How to buy Airtime?
How to buy Electricity?
How to pay DSTV?
How to pay your water meter?
Watch our video tutorials: