Is Raenest Personal (formerly Geegpay) Secure?

If you’ve ever tried out a new payment platform, you’ve probably had that little moment of hesitation. You’ve done the research, maybe even downloaded the app, but there’s still that one question in the back of your mind: Is this actually safe? It’s normal to wonder. After all, this isn’t a social app; it's a Fintech app, and your money is involved, which makes trust a big deal.

That’s why a lot of freelancers, remote workers, and professionals carrying out cross-border payments or transactions just like you, ask us the same thing: Can I trust Raenest Personal (formerly Geegpay)?

The short answer? Yes.

The longer answer? Let’s walk through it together, detailing everything from how your money is stored to the tech working in the background to the people making sure things stay secure. Because if you’re going to use Raenest Personal (formerly Geegpay), you deserve to know exactly what’s going on behind the scenes.

‍

Regulatory Compliance & Licensing

When you’re choosing a payment platform, one of the most important things to check (whether or not it’s top of mind) is regulation. It’s the foundation that helps you know a platform is trustworthy and operating within the rules. Regulation isn’t just about following procedures; it’s about accountability. It means someone is watching, standards are being met, and user protection isn’t optional.

Raenest is built on that kind of foundation. It operates under Raenest Inc., which is officially licensed in Nigeria as an International Money Transfer Operator (IMTO). That license is issued by the Central Bank of Nigeria (CBN), and it authorises us to facilitate cross-border transactions within a regulated framework. In addition to this license, Raenest also has the Money Services Business (MSB) license in Canada. This further strengthens Raenest's position as a trusted provider of international financial services.

Beyond the licenses, Raenest follows strict Anti-Money Laundering (AML) and Counter-Terrorism Financing (CFT) regulations. These guidelines inform how we onboard users, monitor transactions, and report anything suspicious. It’s a system designed to protect both individual users and the broader financial ecosystem.

‍

Data Protection & Encryption

When you sign up for a financial service, you’re not just trusting it with your money. You’re also trusting it with your personal information. Names, documents, account details—things that should never fall into the wrong hands. That’s why Raenest Personal (formerly Geegpay) is built with data protection at its core. Here’s how that works.

First, there’s end-to-end encryption. Any information you share during signups, transactions, or updates is encrypted so that only you and Raenest Personal (formerly Geegpay) can access it. Even if someone tries to intercept it, it’s unreadable.

Raenest Personal (formerly Geegpay) also employs a multi-layered approach to prevent money laundering and fraud while ensuring the platform remains user-friendly and accessible. Know Your Customer (KYC) verification at onboarding to ensure only legitimate users access our services. A 24/7 transaction and fraud monitoring system that uses both automated tools and manual oversight to detect suspicious activity in real time. Continuous screening against global sanctions and watchlists to prevent exposure to high-risk individuals or entities. Risk-based controls that adapt to user behaviour and transaction patterns without compromising the seamless experience for legitimate users. Finally, all transactions on Raenest are secured using industry-standard encryption and fraud detection protocols.

In addition to the above, we are also fully compliant with international and local data protection laws, including the General Data Protection Regulation in Europe and the Nigerian Data Protection Regulation. These laws give you more control over how your data is collected, used, and stored, and we take those responsibilities seriously.

‍

Fraud Prevention & Account Security

Fraud is, unfortunately, part of life online. From fake emails to suspicious payment requests, the threats are real and constantly evolving. That’s why Raenest takes a proactive approach to fraud prevention. The platform runs real-time fraud monitoring across all transactions. It’s not just one system working in the background. It’s a layered process that combines automated tools with human oversight. This helps us spot suspicious activity quickly and flag it before it can cause harm.

‍

Here’s how Raenest keeps your account secure:

• Two-factor authentication (2FA)

This adds an extra step when logging in or making changes. Even if someone gets your password, your account stays protected.

• 3D Secure virtual cards

Our cards come with an added layer of verification for online transactions, making it impossible to make unauthorised payments 

• Instant card freezing

If something feels off, you can freeze your USD card directly from the app. It takes seconds and doesn't require waiting on support.

• Smart transaction monitoring tools

These tools don’t just look at single transactions. They analyse details across the sender, receiver, and transaction patterns to detect anything unusual.

And if something does happen, Raenest acts fast. Suspicious activity is investigated immediately, and when needed, we file the required reports with financial authorities to stay fully compliant.

‍
How Raenest Personal (formerly Geegpay) Compares to Other Payment Platforms‍

Let’s address the Wise and Payoneer-sized elephants in the room. How does Raenest compare? In one word: Proactively.

While the other platforms are solid in their own right, Raenest’s edge lies in its local understanding and tailored security stack. Its fraud models are built with African transaction patterns in mind, and the team behind it? Local, smart, and obsessed with keeping your funds and data safe. The platform offers faster payments, real-time monitoring, and onboarding flows that are both secure and user-friendly. Here's a full comparison blog for more information.

‍

Clearing Up Common Misconceptions

“Is my money at risk?”

No. Your funds are held with regulated financial institutions and are completely separate from company funds. There’s no mix-up, no shortcuts.

“Could Raenest ever shut down and disappear with my money?”

Raenest operates under a licensed financial structure and works with regulated banks. Even if the app went offline, your funds would remain safe and accessible through those institutions.

“What if someone hacks my account?”

That’s why we have multi-factor authentication, instant card freezing, and round-the-clock monitoring. If something does happen, our support team is trained to step in fast, help you recover access, and secure your account.

‍

What You Can Do to Keep Your Raenest Personal (formerly Geegpay) Account Safe

Raenest has your back, but there are a few things you can do to stay extra secure:

• Set a strong, unique password that you don’t use elsewhere
• Turn on two-factor authentication from your app settings
• Be careful with emails and links. Raenest will never ask for your login credentials outside the app
• Don’t share your account or card details with anyone, even if they say they’re from Raenest
• If anything feels suspicious, freeze your card immediately and message us through the in-app chat. You can learn more about it here.

So, Should You Trust Raenest?

Yes. You absolutely should. Raenest is designed with security in mind. From end-to-end encryption and regulatory compliance to smart monitoring tools and fast support, everything is built to protect your data, your money, and your peace of mind.

If you're a freelancer, remote worker, solopreneur, content creator or global professional in Africa looking for a secure way to manage your international payments, Raenest Personal (formerly Geegpay) is a solid, reliable choice. Ready to take control of your earnings? Sign up today and experience what safe, seamless payments should feel like.