The quick answer: No, we’re not a bank.
The details: we are not a deposit taking banking institution and neither is our e-money partner PFS (Prepaid Financial Services Ltd). PFS is an authorised Electronic Money Institution regulated by the Financial Conduct Authority in the UK.
HyperJar does not directly hold or process any of your money. HyperJar does not issue or hold electronic money, or provide payment services, but distributes and redeems electronic money on behalf of PFS. Any obligations owed to you relating to the issue or holding of electronic money, the provision of payment services, or the HyperJar card, are owed by PFS and CashFlows Europe Limited respectively.