Company Information

Get to know Envel

Envel, Inc. was a financial technology company that offered a mobile banking application aimed at automating personal finance management. Its mission was to improve users' financial health through an AI-driven system based on the envelope budgeting method, automatically splitting income into customizable sub-accounts for bills, savings, and discretionary spending. The company provided FDIC-insured deposit accounts and a debit card through its partnership with nbkc bank. Despite its innovative approach, numerous public reports and a notice from the Better Business Bureau in early 2024 indicate the company has ceased operations, with many users reporting being unable to access their funds or receive customer support.

Industry

Financial BankingPRIMARY
Financial Other Service
Financial Wealth Management

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Envel

United States

Founded in

2018 (8 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

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TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.

Regulated

Recommended

IUX

(2,283 reviews)

Mauritius

2015

(10 years)

Security Information :

FSCA

FSC

ASIC

Security Information

Warning

This company is currently Unproved.

Please be cautious of the potential risks!

License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.