How Safe is Your Money on Grey?

Cassandra Collins


Two years ago, Grey, formerly called Aboki Africa, launched to make globalisation easier for everyone. More than that, we’ve brought a lot of African freelancers, remote workers, and digital nomads along with us on this journey.

If you started using Grey before the rebrand in February 2022, you’re one of our oldest users. You probably wonder or have asked a customer support agent about the safety of your money.

With over 150k users, be assured that you’re in the great company of other freelancers who trust our service. From your signup process to your foreign account creation and transactions, here are a few steps we’ve taken to protect you:

Grey on Instagram: “If you’ve ever been concerned about the safety of your money as a Grey user, be rest assured you’re in safe hands. Here are a few things we do to safeguard your funds. 👇🏾"

A Thorough Verification Process

When you create a new Grey account, you must verify your email and state your occupation and identity by verifying a valid Government ID.

Verifying your KYC helps us prevent financial fraud, terrorism financing, money laundering, identity theft, and other malicious intent or financial crimes.

It also helps us understand your needs and how to serve you better. Your KYC protects both you and Grey from falling victim to fraud.

Two- Authentication

After the signup process, you can enable the 2FA option (either via an authenticator app or SMS).

This ensures that you can have security at login or sign-in. We recently introduced 2FA for withdrawals, and this is for you to have an extra layer of protection while performing withdrawals or sending funds to new or saved beneficiaries.

On the mobile app, after you sign in with your email and password, you must compulsorily set a four-digit PIN which helps ensure that your Grey app access is personalised and secure.

Start protecting your finances by turning on your Grey 2FA here.

Recommended Reading: How to Set Up Two-Factor Authentication on Your Grey App

Device and Sessions Management

This feature allows you to see all devices where your Grey account is currently logged in. Both on the mobile and web app. You can remove any suspicious or unwanted devices to protect your account. This will prevent and avoid future unauthorised access.

How Else Do We Protect You and Your Money?

  • We safeguard the funds of our customers. This means that customer funds are deposited with our banking partners and kept separate from the funds used to run our business.
  • We are registered and licensed with FINTRAC and FinCEN.
  • We are not a bank, so we do not lend your money as a traditional bank would nor do we invest it with third parties and hedge funds.
  • Our platform also uses encryption and the latest security to protect customer data. Grey also uses two-factor authentication (2FA) on accounts to provide an extra layer of protection.

The Bottom Line

Here is some of the security measures we’ve implemented to protect your money, privacy, and data on Grey. There’s also what can you can do to protect your account;

  1. KYC verification.
  2. Enabling Two Factor Authentication on your email accounts to keep you extra secure. This way, you’ll be notified if there’s any suspicious attempt.
  3. Device and sessions to help you monitor where your account is logged in.
  4. Do not share your Grey account details with anyone.
  5. Don’t use public or shared computers to log into your Grey accounts.
  6. Immediately report any suspicious activity to us.
  7. Lastly, please don’t transact with anyone claiming to be Grey. We will never ask you to send money to a private account or share your password.

Our Verified Channels of communication are



Twitter: @greyfinance

Instagram: @greyfinance

Facebook: Greyfinance

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