Trust Points Risk Assessment

How The Trust Point Assessment Works

Our innovative Trust Point Assessment Tool enables merchants and consumers to quickly establish the trust level of a financial service provider. With just ten comprehensive questions, we guide them through critical aspects such as regulatory compliance, information transparency, customer service quality, and data security. The Trust Point scale ranges from 1 to 10, with 10 being the highest and best value we award. See the table below.

Your Trust Points Assessment

Question #1 – Step 1 of 10

Financial Services Provider

Please provide the name of the financial services provider you want to assess!

Question #1: Assess the website approach *

• All information available and easy to find
• Some information is available/not easy to find
• important information is missing

The website of financial services providers should be easy to read, intuitive, and provide all information about the operators, the relevant jurisdiction and the competent regulatory authorities. Does the provider offer educational materials or resources to help customers make informed financial decisions?

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Question #2: Terms & User Agreement *

• In the suggested Terms and in the User Agreement, legal entity and jurisdiction are specified
• Not all necessary information is provided in the terms and/or in the User Agreement
• I found no information or misleading information

The Terms & Conditions and the User Agreement should contain all information about the contractual partners, the responsible jurisdiction and the applicable laws. Unfortunately, many providers do not mention any legal entities in the user agreement, which is a red flag. How does the provider ensure the security and confidentiality of customer data? Is there a clear and comprehensive privacy policy in place?

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Question #3: Social Media Approach *

• I found the provider and its executives on social media
• I found some information is about the provider on social media but not all
• I found no social media presence

Providers of financial services and their executives should also be represented in social media. This increases trust, offers additional transparency, and provides additional channels for communication.

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Question #4: Trustpilot *

• excellent trust level
• great trust level
• average trust level
• poor trust level

Please check the trust level on Trustpilot. Reviews and ratings can be indications of problems with providers. In this respect, the trust level is an indicator. Unfortunately, many dubious providers also use Trustpilot to manipulate their rating and trust level.

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Question #5: Is there a PayRate42 Rating? *

• Green Compliance
• Orange Compliance
• Red Compliance
• Black Compliance
• No rating on PayRate42

Please check the rating of the provider on PayRate42. We check financial service providers and assign a compliance rating ranging from green to black. In particular, compliance with financial laws, regulatory provisions and dealings with customers are checked.

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Question #6: What is the compliance situation? *

• I established that this is a regulated operator
• I found that this is registered money/crypto service business
• I found no regulatory authorization or registration

The financial services sector is strictly regulated in (almost) all jurisdictions. Not all providers are required to have a regulatory license or be registered. In any case, registration and regulation create additional security for customers. Check if the provider is authorized to offer financial services in your jurisdiction.

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Question #7: Are there warnings? *

• I found no warnings against this provider
• I found some warnings from clients or partners
• I found regulatory warnings or investigations

There are many forums and review platforms on which warnings are issued against financial service providers. To a certain degree, such warnings are part of the business and can be regarded as “normal.” Financial regulators maintain warning lists on which providers are warned. Warnings are an indication of possible problems with the provider.

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Question #8: Complaints, dispute resolutions, and lawsuits *

• I found no complaints and lawsuits on the Web
• I found some complaints and lawsuits when searching for the provider
• I found many complaints or lawsuits

Lawsuits against financial service providers are not uncommon and are part of their daily business. However, the accumulation of lawsuits due to the withholding of funds should lead to increased mistrust. It indicates that the provider has not implemented proper dispute resolution mechanisms or operates with a questionable approach.

For US customers, the Better Business Bureau (BBB) is a good source for customer complaints.

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Question #9: References *

• I have got trusted references
• No, I haven not received any trusted reference
• I have received negative references

Have you got references? References from people and organizations you trust are an important indication of the trustworthiness of financial service providers. Good experiences from others are the best reference.

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Question #10: Fees *

• transparent, fair, and easily understandable fee structure
• questionable and/or complex fee structure
• no information provided

Please assess how the financial service provider’s fees are stated or structured.

Merchants in particular should pay attention to the fees. Are there termination fees? How are the termination fees regulated? Is it ensured that this termination fee cannot be triggered unilaterally by the provider?

Total

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Submit for quick assessment

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Trust Point Assessment Results

• 0 – 2 trust points: very high-risk, you should stay away!
• 3 – 5 trust points: high-risk, you should be very careful with this financial services provider.
• 6 – 8 trust points: medium risk when doing business with this provider.
• 9 – 10 trust points: low risk, you can trust this provider.