Licenses
Last Updated: October 26, 2024
Our Regulatory Principles
Your trust is our foundation. Our approach to regulation is built on these core pillars to ensure your money and data are always secure.
Bank-Level Security
We partner with U.S.-based, federally-regulated financial institutions to hold customer deposits, ensuring your funds are protected by bank-level security and eligible for FDIC insurance.
Proactive Compliance
We are committed to full compliance with all applicable federal and state regulations. Our dedicated compliance team works tirelessly to ensure our practices meet the highest industry standards.
Industry Best Practices
The Monarch Gray Haven Card program is established in partnership with an FDIC-insured bank and is subject to the rules of major card networks, providing you with global acceptance and protection.
How It Works: Our Partnership Model
Monarch Gray Haven is a financial technology company, as well as a bank. We provide a technology platform that connects you to banking services offered by our trusted financial institution partners.
Deposit & Banking Services
When you add money to your Monarch Gray Haven account, your funds are held at our FDIC-insured partner bank(s). This structure ensures that your deposits are secure and insured up to the standard maximum amount allowed by law, giving you peace of mind.
Card Issuance
The Monarch Gray Haven Card is issued by our partner bank pursuant to a license from a major card network. This allows you to use your card for purchases and ATM withdrawals worldwide, wherever the network is accepted.
Our Licensing Approach
Monarch Gray Haven maintains a robust compliance program that includes securing and maintaining licenses as required by state and federal law for the services we offer. The U.S. regulatory landscape is complex, and our licensing strategy is designed to ensure we can provide our services safely and broadly.
In jurisdictions where we do not hold a direct license, we may rely on the licenses of our financial partners to offer services in a compliant manner. We are continuously working with regulators to expand our licensing footprint.
Additional Disclosures
The following disclosures apply to the products and services offered through the Monarch Gray Haven platform.
Equal Housing Lender
Our partner bank is an Equal Housing Lender. We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.
Website & App Accessibility
Monarch Gray Haven is committed to making our services accessible to everyone. We are continuously working to improve the user experience for all individuals, including those with disabilities, by conforming to established accessibility guidelines. If you encounter any barriers, please contact our support team.
Contact Information
For any questions regarding our regulatory approach or compliance program, you may contact our legal team at support@monarchgrayhaven.com.