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# A short introduction to the difference between Spendesk and a bank

# Why is Spendesk different from a traditional banking institution?

Spendesk is a Spend Management solution that:

* through its division **Spendesk Financial Services**, a payment institution licensed by the ACPR in France, allows customers in the **EU Market** to maintain a payment account and use payment solutions, including card and wire payments.
* through its partnership with **Adyen**, a UK-based Credit institution, allows **UK customers** to also hold a payment account and use payment solutions, including card and wire payments.
* US users do not have a dedicated Spendesk-specific bank account; instead, all funding is processed directly from the company's external bank account, ensuring seamless integration with external systems.

# Compliance and Fund Protection

Spendesk prioritizes compliance and fund safety:

* Customer funds are safeguarded under the French Deposit Guarantee Fund (FGDR).
* Funds are securely stored in segregated accounts distinct from Spendesk's operational funds.

**We provide a payment solution to companies. However, a Spendesk account is not a "classic" business bank account.** It is a payment account with the following distinctive features:

* The balance of the account cannot be negative.
* We do not offer loan possibilities.
* Customer funds are safeguarded through the French Deposit Guarantee Fund (FGDR).
* Funds are stored in segregated accounts, separate from Spendesk’s assets, to ensure security and compliance.

# In what are they similar?

This does not prevent your Spendesk account from facilitating the daily work of your teams by offering you the possibility to:

* [order payment cards](http://helpcenter.spendesk.com/en/articles/4156029-order-physical-cards) for your teams via the platform.
* Instantly [generate virtual cards](http://helpcenter.spendesk.com/en/articles/4046280-request-a-virtual-card) to pay for your online purchases or subscriptions.
* [Control expenses](https://helpcenter.spendesk.com/en/articles/4062441-1-2-3-set-up-approval-policies-company-level-or-individual) by setting payment limits for each user.
* [Pay invoices from the Spendesk account](https://helpcenter.spendesk.com/en/articles/4198466-pay-your-invoices).
* [Reimburse employee's expense claims](https://helpcenter.spendesk.com/en/articles/4127160-reimburse-your-expense-claims-by-wire-transfer-directly-with-spendesk) from the Spendesk account.
* [Download your transaction history](http://helpcenter.spendesk.com/en/articles/4153651-download-your-payments) (and receipts) to facilitate your accounting operations.
* [Invite your accountant on the platform](http://helpcenter.spendesk.com/en/articles/4057643-assign-different-roles) (with a dedicated Controller view)
* Centralize your numerous invoices & receipts, along with contact information, bank details...