At Expatrio, we acknowledge that it is imperative for you to know about all of the security measurements we have in place to make your journey to Germany safe and secure.
Therefore, we have taken the utmost care of your privacy and have only chosen prestigious partners for our Blocked Account, Health Insurance, and all other products offered via Expatrio.
Expatrio Partners
We only work with renowned and regulated partners. That is why we would like to introduce our partners for “Expatrio Blocked Account” once again:
1. MANGOPAY – Our Financial Technology partner
Mangopay is a payment platform licensed and regulated by the European Payment Institution. With Mangopay, Expatrio can keep its promise to open and process Blocked Accounts within just a few hours. Mangopay's headquarter is based in Luxembourg. Therefore, you will find Luxembourg IBANs (LU) on your 05 Account Opening Confirmation. Your Blocked Account will be in your name on the banking infrastructure of Credit Mutuél - which operates in Germany under the name Targobank or Commerzbank. Both are, of course, fully licensed by the German regulator BaFin, therefore your Blocked Account is accepted in Germany as it complies to the applicable immigration law (§ 2 (3) Residence Act (AufenthG) and 16.0.8.1 Administrative Order of the Residence Act (VwV-AufenthG).
2. Cohort Go – Our International payment provider
Cohort Go is an international payment service provider headquartered in Australia. With Cohort Go, Expatrio offers its solution Expatrio Payments, allowing you to transfer money to your Blocked Account in your local currency. The Cohort Go solution is fully embedded in Expatrio’s digital process and is automatically shown as an option for transferring funds to your own Blocked Account. You can, of course, choose not to use Cohort Go and transfer your money with another international money transfer method. Cohort Go is ASIC regulated and is compliant with all financial services regulations in each of their markets.
For more information about our Blocked Account, please refer to our dedicated page.
European Banking Regulation
As explained above, Expatrio's partners, Mangopay and Cohort Go, are both fully licensed, regulated and compliant with applicable laws. Therefore, both of them comply with the highest security requirements, including but not limited to: data security, anti-money-laundering (AML), and regular reporting to the regulators.