How Veritas ensures discretion in your money transfers

Veritas offers a payment account that sits separately from your main current account, with a dedicated IBAN issued in the holder's name. This architecture allows for a clean accounting partition, in strict compliance with European law. Discretion here rests on how the flows are organised, never on opacity.

Discretion does not mean anonymity: what the law requires from Veritas

Veritas is distributed by electronic money institutions authorised within the European Economic Area. Regular issuers of the programme include PFS Card Services (Ireland), Narvi Payments Oy Ab, Monavate UAB, Heuro SAS and Moorwand Ltd. These entities apply Directives (EU) 2015/849 (AMLD4) and 2018/843 (AMLD5) on the prevention of money laundering and terrorist financing.

In practical terms, opening any account requires identity verification: the account is held in the name of its holder and is subject to KYC obligations. This is not an anonymous service. Discretion must not be confused with anonymity: every operation remains traceable for the competent authorities and is retained for the statutory periods.

Article L. 561-12 of the Code monétaire et financier (the French monetary and financial code) provides for the retention of KYC data for five years after the end of the business relationship. That period applies to identity documents, proof of address and the operations history. For the holder, this means the discretion offered by Veritas applies vis-à-vis private third parties, never vis-à-vis the regulator.

Accounting partition: a payment account distinct from the current account

The principle behind Veritas is straightforward: create a second payment space, attached to the cardholder, but distinct from the historical bank. The account is funded by inbound transfer, by card, or by transfer from another Veritas cardholder. No credit line is attached to it. No overdraft and no interest charges can occur, as the page dedicated to the prepaid virtual card reminds readers.

This accounting partition meets a precise need: holding a separate transaction history for certain lawful but sensitive expenses. The product page openly lists the use cases concerned, among them sports betting, poker, online games, casino, trading, crowdfunding and adult paid websites. These operations remain fully lawful; the holder simply chooses to group them on a ring-fenced account. For more detail, the discreet and confidential purchases page sets out the use cases.

The included dedicated IBAN is attached to the cardholder. According to the official documentation it is "INCLUDED AND FREE for all Veritas card holders, with no conditions". This nominative IBAN allows the holder to receive a salary, a refund or a top-up without going through the main current account. Important: the choice of your country of residence is irreversible at the time of opening, and that choice determines the jurisdiction applicable to the account.

Sending a SEPA transfer from the Veritas account: rules and checks

The account allows the holder to issue standard SEPA transfers. Transferring funds to another Veritas cardholder is free, both outbound and inbound, in line with the published pricing schedule. To send a SEPA transfer to an external account, the holder enters the beneficiary's IBAN and full name.

Three elements should be checked before validation. First, the available balance: with no authorised overdraft, the order is rejected if funds are insufficient. Next, the match between the beneficiary name and the name registered on the destination account. Finally, compliance with the limits applicable to the cardholder, which can be consulted in the application.

Discretion vis-à-vis the main current account rests on a practical point: the outbound transfer appears on the recipient's bank statement under the Veritas issuer name, not under the holder's historical bank. Conversely, on the main bank statement, no trace of expenses made from the Veritas account appears, since those flows are housed independently. That is precisely the point of a prepaid card accounting partition that stays discreet from the holder's main current account.

For online operations, security is added to discretion. 3D Secure is enabled by default and protects every payment with a strong confirmation step on the holder's phone. This authentication reduces the risk of fraud without weighing down the user experience.

GDPR and protection of the holder's data

The processing of personal data by Veritas and its issuers falls within the scope of Regulation (EU) 2016/679, known as the GDPR. The holder retains a range of rights enforceable against the data controller: right of access, right of rectification, right to object on legitimate grounds, and right to data portability. The CNIL (France's data-protection authority) sets these rights out in detail on its official site.

In practice, the legal basis for processing is threefold. It rests on the performance of the payment services contract, on compliance with legal obligations (notably AMLD and tax rules), and, for certain secondary purposes, on express consent. Retention periods differ: five years after closure for KYC data, thirteen months for most connection logs, and the duration of the contract for the holder's contact details.

Technical processors (hosting providers, scoring providers, support services) are bound by processing agreements compliant with Article 28 of the GDPR. No data is resold for advertising purposes without an explicit legal basis. Where data is transferred outside the European Union, standard contractual clauses or adequacy decisions apply. The holder may, at any time, exercise their rights through the customer service identified in the general terms and conditions.

The reminder bears repeating: the discretion organised by Veritas is not anonymity. Judicial, tax and anti-money-laundering authorities have lawful channels of access to data, under the conditions set by European and national law.

Important notice: beneficiary name and outbound transfers since 9 October 2025

Since 9 October 2025, heightened vigilance applies to outbound transfers. According to the information banner published on the site, "all outbound transfers from VERITAS accounts will continue to operate normally, provided that the beneficiary name supplied is strictly identical to the one registered". The rule stems from the European regulation on Verification of Payee, which applies to instant payment and SEPA services.

The consequence is clear: "Any difference will result in the transfer being rejected and the related fees being charged". A misspelling in the first name, a married name instead of a maiden name, a missing initial or a misplaced capital letter can all be enough to trigger a rejection. The mechanism is designed to combat transfer fraud and to protect both the issuer and the recipient.

A few good habits limit rejections. Ask the beneficiary for the exact wording registered on their account, copy the IBAN exactly as it appears on the official document, and check there are no stray spaces or extraneous characters. In case of doubt, sending a small initial transfer allows the holder to test compliance before moving a larger sum. The Veritas account tolerates neither variance nor approximation on this point.

Legal notice

The full pricing schedule and the general terms and conditions are published on the official site cardveritas.com. The programme is operated by regulated electronic money issuers and is subject to the European Directives AMLD4 and AMLD5, as well as Regulation (EU) 2016/679 (GDPR). To exercise their rights, the holder may contact customer service and, failing that, the CNIL (France's data-protection authority). KYC data retention obligations are set out in Article L. 561-12 of the Code monétaire et financier, available on Légifrance. The European framework is accessible on EUR-Lex. Finally, the discretion offered by Veritas does not exempt the holder from any tax or asset-reporting obligations attached to their income, accounts and holdings.

Similar articles