When you become a Settle user we give you a free Settle Account. It’s a private, secure and super fast account where you can keep your electronic money.
The Settle Account has many great features compared to traditional bank accounts; the most important being that it’s a real-time account. If someone sends you money, your Settle Account will be updated instantly, all day, all night, any time of the year.
In the Settle app, you can see the live balance of your Settle Account, and you can always transfer some or all of your money to your bank account.
Auka guarantees that your electronic money is safe.
Auka is a regulated financial institution, and we guarantee that your electronic money is safe and backed 100% in our client account, subject to supervision by the Norwegian financial supervisory authorities. Unlike banks, we are not allowed to invest, speculate or lend out your money. So we keep it safe, locked down, until you choose to spend it or transfer it to your bank account.