How does it work ?
How old do I need to be to use the Cashbee App?
You have to be 18 years or older to use the Cashbee App. We are thinking about dedicated solutions for younger savers!
Do I have to reside in France to use the App?
Yes. For now, Cashbee operates in France and you have to be a French fiscal resident to use the App. With that said, we hope to be able to extend our offer to other countries in Europe in the years to come !
Why does Cashbee ask me for personal information and copies of my ID to create my account?
Cashbee’s offer is a financial service, and therefore subject to security standards similar to those that apply to banks. And we therefore have to verify the identity of our users and the origin of their funds, to respect the anti-money laundering and terrorist financing regulations. These obligations are called Know Your Customer, or KYC, in the banking world and require that we verify your official ID and collect certain pieces of information to complete the client registration process.
What forms of ID / proof of residence do we accept?
Regulations require that we ask for copies of 2 pieces of ID. The first ID should be a photograph of your currently valid passport or ID card (“Carte d’Identité”). For the second proof of ID, you can choose amongst various alternatives : a photograph of your passport or your ID card (whichever you did not use for the first ID, as you can’t use the same document twice), your driver’s license, your carte de séjour (in France), your tax return, or your pay slip. For the last two examples, the document has to be less than 3 months old. To prove where you live, you have the choice between a recent electricity, gas or water bill, an internet or telephone bill, your tax return (if you have not already transferred this document as a proof of your identity), a property title, a rent receipt or proof of home insurance, in your name. All these documents need to be the most recent possible (less than 3 months) and in your name.
Why does Cashbee want to connect with my current account ?
Cashbee requests your identifiers to your current account in order to be able to provide you with personalized savings recommendations, and to warn you when your current account gets close to being in overdraft. Don’t worry, your identifiers are immediately encoded and the connection with your bank is entirely secure.
I have several bank accounts, which one do I connect with Cashbee?
Cashbee functions with (nearly) all bank accounts, but it is preferable to connect us with your main bank account, i.e. the one with which you use most often to complete your financial transactions. Indeed, by connecting us with your most frequently used account, you will allow Cashbee to make the most precise and personalized savings recommendations for you.
Is Cashbee a bank?
No. Cashbee is supervised by the same regulatory authorities, but we’re not a bank ourselves. The regulatory authority is called the Autorité de Contrôle Prudentiel et de Résolution (https://acpr.banque-france.fr), and forms an integrated part of the Banque de France. Cashbee is a Payment Service Provider (“PSP”), which allows us to have access to your bank accounts and execute transfers on your behalf, every time you instruct us to.
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