EMI license: the electronic money institution license by country
An EMI license is the authorization to issue electronic money: balances in wallets, accounts and prepaid cards that clients hold and spend.
- €350,000 initial capital in the EU and the UK
- Three months from a complete file
- Nine regimes, each with its sources
What an EMI license is and who needs one
You need one if your business keeps client funds as stored value beyond a single payment. In the EU and the UK it takes €350,000 of initial capital, safeguarded client funds, approved management and a decision within three months of a complete file.
Electronic money is prepaid value: the client pays funds in, receives a balance, and spends, transfers or withdraws it later. An electronic money institution may hold those funds for as long as the client keeps the balance, which a payment institution may not; it may not lend them or take deposits. It may also provide every payment service a payment institution provides, so one license covers issuing the money and moving it. The license suits wallets, neobank-style accounts, prepaid card programs, payroll and expense platforms, and marketplaces that hold seller balances.
What it takes: 1. A company with its registered office and head office in the licensing state, and part of its business there. 2. €350,000 of initial capital, then own funds of at least 2% of average outstanding e-money (Method D) once that is higher. 3. Safeguarding: client funds in a segregated account at a credit institution, or covered by insurance. 4. Fit-and-proper qualifying shareholders and directors, and local management with payments experience. 5. A program of operations and a three-year business plan, governance and internal control, ICT and security risk management (DORA), a wind-down plan and an AML/CFT program with a compliance officer and MLRO.
What it costs: initial capital runs from S$100,000 in Singapore to HK$25,000,000 paid up for a stored value facility in Hong Kong. In Singapore, S$100,000 covers a standard institution under the e-money thresholds; above them it is S$250,000 plus a security deposit. Between the two sits €350,000, the same in every EU state (EMD2 Article 4) and in the UK (the Electronic Money Regulations 2011). Own funds then grow with the float: at least 2% of average outstanding e-money once that passes the initial capital. Each regulator sets its own application and supervisory fees, named in its row; the FCA charges by category. A small UK issuer, with average outstanding e-money under €5,000,000, registers under lighter requirements.
Time frame: from three months after a complete application in every EU state (PSD2 Article 12, applied by EMD2) to twelve months for an incomplete UK file. Most regulators ask several rounds of questions before they treat a file as complete. Since 3 August 2026, Cyprus starts with a pre-application exploratory stage and an initial meeting, and Lithuania publishes its timeline. (Hint: if you will never hold client balances beyond a single transaction, the payment institution license asks less capital; check that before you size the EMI file.)
Electronic money institution license by country
Nine regimes: seven under the EU's e-money rules, which the UK kept after Brexit (the UK, Lithuania, Ireland, Malta, Cyprus, the Netherlands and Luxembourg), and Singapore and Hong Kong under their own. Open one for the regulator, the capital, how client funds are safeguarded and the local notes.
| Country | Regulator | Minimum capital | Government fees | Time frame | Last reviewed | |
|---|---|---|---|---|---|---|
| Open details forUnited Kingdom | FCA | €350,000 | FCA application fee by category | 3 months (complete) or 12 months (incomplete), statutory | 2026-11-14 | |
| Open details forLithuania | Bank of Lithuania | €350,000 | Bank of Lithuania fees | 3 months from a complete application (statutory) | 2026-11-11 | |
| Open details forIreland | Central Bank of Ireland | €350,000 | Central Bank fees | 3 months from a complete application (statutory) | 2026-11-11 | |
| Open details forMalta | MFSA | €350,000 | MFSA application and supervisory fees | 3 months from a complete application (statutory) | 2026-11-11 | |
| Open details forCyprus | Central Bank of Cyprus | €350,000 | Central Bank fees | 3 months from a complete application (statutory) | 2026-11-11 | |
| Open details forNetherlands | DNB | €350,000 | DNB application fee | 3 months from a complete application (statutory) | 2026-11-11 | |
| Open details forLuxembourg | CSSF | €350,000 | CSSF application fee | 3 months from a complete application (statutory) | 2026-11-11 | |
| Open details forSingapore | MAS | S$250,000 base capital | MAS application and annual fees | Ask us | 2026-11-11 | |
| Open details forHong Kong | HKMA | HK$25,000,000 paid-up capital | HKMA fees | Ask us | 2026-11-11 |
United Kingdom
A very large fintech licensing market under the FCA: the EU capital rules without the passport, with lighter small-firm registrations.
- Regulator
- Financial Conduct Authority (FCA)
- License
- Electronic money institution (EMI)
- Initial capital
- €350,000 (EMD2 Article 4)
- Own funds
- At least 2% of average outstanding e-money (Method D)
- Statutory review
- 3 months (complete) or 12 months (incomplete), statutory
- Passport
- United Kingdom only
What the license allows
An electronic money institution issues e-money (prepaid value held in wallets, accounts and cards) and provides every payment service a payment institution may provide. It may hold client funds indefinitely, which a payment institution may not; it may not take deposits or lend from client funds.
Capital and safeguarding
EMD2 sets initial capital of €350,000 and ongoing own funds of at least 2% of average outstanding electronic money (Method D), or the initial capital if higher. Client funds are safeguarded in a segregated account at a credit institution or covered by insurance; they are not covered by a deposit guarantee scheme.
Requirements
- A company with its registered office and head office in the member state, and part of its business there
- Fit-and-proper qualifying shareholders and directors; local management with payments experience
- Safeguarding arrangements, a wind-down plan and professional indemnity insurance where required
- Governance, internal control, ICT and security risk management (DORA), outsourcing policy
- AML/CFT program with a compliance officer and MLRO
Documents
- Program of operations and a three-year business plan with projections
- Structural organization, governance and internal control descriptions
- Safeguarding, security, incident, business-continuity and AML policies
- Identity and good-repute evidence for shareholders, directors and managers; proof of initial capital
Steps and timeline
The competent authority decides within three months of receiving a complete application (PSD2 Article 12, applied to EMIs by EMD2). In practice the file takes months to prepare and most regulators ask several rounds of questions before they treat it as complete.
Local notes
- The UK kept the EU rules after Brexit as the Electronic Money Regulations 2011 and the Payment Services Regulations 2017, without the EU passport
- A small EMI (average outstanding e-money under €5,000,000) and a small payment institution (under €3,000,000 a month) register under lighter requirements
- Since 7 May 2026 the FCA's safeguarding rules (CASS 15) require daily reconciliations, a resolution pack, a monthly safeguarding return and, above £100,000 of customer funds, an annual audit
Last reviewed: 2026-11-14
Lithuania
A major EU EMI hub: a regulator that publishes its timelines, and direct SEPA access through the central bank.
- Regulator
- Bank of Lithuania
- License
- Electronic money institution (EMI)
- Initial capital
- €350,000 (EMD2 Article 4)
- Own funds
- At least 2% of average outstanding e-money (Method D)
- Statutory review
- 3 months from a complete application
- Passport
- EU and EEA
What the license allows
An electronic money institution issues e-money (prepaid value held in wallets, accounts and cards) and provides every payment service a payment institution may provide. It may hold client funds indefinitely, which a payment institution may not; it may not take deposits or lend from client funds.
Capital and safeguarding
EMD2 sets initial capital of €350,000 and ongoing own funds of at least 2% of average outstanding electronic money (Method D), or the initial capital if higher. Client funds are safeguarded in a segregated account at a credit institution or covered by insurance; they are not covered by a deposit guarantee scheme.
Requirements
- A company with its registered office and head office in the member state, and part of its business there
- Fit-and-proper qualifying shareholders and directors; local management with payments experience
- Safeguarding arrangements, a wind-down plan and professional indemnity insurance where required
- Governance, internal control, ICT and security risk management (DORA), outsourcing policy
- AML/CFT program with a compliance officer and MLRO
Documents
- Program of operations and a three-year business plan with projections
- Structural organization, governance and internal control descriptions
- Safeguarding, security, incident, business-continuity and AML policies
- Identity and good-repute evidence for shareholders, directors and managers; proof of initial capital
Steps and timeline
The competent authority decides within three months of receiving a complete application (PSD2 Article 12, applied to EMIs by EMD2). In practice the file takes months to prepare and most regulators ask several rounds of questions before they treat it as complete.
Local notes
- Direct access to SEPA through the Bank of Lithuania's CENTROlink, without a sponsor bank
- A restricted EMI license exists for Lithuania-only business under lower thresholds
- The Bank of Lithuania publishes its three-month statutory timeframe and a Newcomer Programme for applicants
Last reviewed: 2026-11-11
Ireland
An EU passport from an English-speaking common-law jurisdiction, with a thorough and well-documented authorization process.
- Regulator
- Central Bank of Ireland
- License
- Electronic money institution (EMI)
- Initial capital
- €350,000 (EMD2 Article 4)
- Own funds
- At least 2% of average outstanding e-money (Method D)
- Statutory review
- 3 months from a complete application
- Passport
- EU and EEA
What the license allows
An electronic money institution issues e-money (prepaid value held in wallets, accounts and cards) and provides every payment service a payment institution may provide. It may hold client funds indefinitely, which a payment institution may not; it may not take deposits or lend from client funds.
Capital and safeguarding
EMD2 sets initial capital of €350,000 and ongoing own funds of at least 2% of average outstanding electronic money (Method D), or the initial capital if higher. Client funds are safeguarded in a segregated account at a credit institution or covered by insurance; they are not covered by a deposit guarantee scheme.
Requirements
- A company with its registered office and head office in the member state, and part of its business there
- Fit-and-proper qualifying shareholders and directors; local management with payments experience
- Safeguarding arrangements, a wind-down plan and professional indemnity insurance where required
- Governance, internal control, ICT and security risk management (DORA), outsourcing policy
- AML/CFT program with a compliance officer and MLRO
Documents
- Program of operations and a three-year business plan with projections
- Structural organization, governance and internal control descriptions
- Safeguarding, security, incident, business-continuity and AML policies
- Identity and good-repute evidence for shareholders, directors and managers; proof of initial capital
Steps and timeline
The competent authority decides within three months of receiving a complete application (PSD2 Article 12, applied to EMIs by EMD2). In practice the file takes months to prepare and most regulators ask several rounds of questions before they treat it as complete.
Local notes
- An English-speaking EU passport favored by groups serving the UK and the EU together
- The Central Bank publishes application forms and a pre-application engagement process
Last reviewed: 2026-11-11
Malta
An EU passport from a regulator used to payments, gaming and crypto groups under one roof.
- Regulator
- Malta Financial Services Authority (MFSA)
- License
- Electronic money institution (EMI)
- Initial capital
- €350,000 (EMD2 Article 4)
- Own funds
- At least 2% of average outstanding e-money (Method D)
- Statutory review
- 3 months from a complete application
- Passport
- EU and EEA
What the license allows
An electronic money institution issues e-money (prepaid value held in wallets, accounts and cards) and provides every payment service a payment institution may provide. It may hold client funds indefinitely, which a payment institution may not; it may not take deposits or lend from client funds.
Capital and safeguarding
EMD2 sets initial capital of €350,000 and ongoing own funds of at least 2% of average outstanding electronic money (Method D), or the initial capital if higher. Client funds are safeguarded in a segregated account at a credit institution or covered by insurance; they are not covered by a deposit guarantee scheme.
Requirements
- A company with its registered office and head office in the member state, and part of its business there
- Fit-and-proper qualifying shareholders and directors; local management with payments experience
- Safeguarding arrangements, a wind-down plan and professional indemnity insurance where required
- Governance, internal control, ICT and security risk management (DORA), outsourcing policy
- AML/CFT program with a compliance officer and MLRO
Documents
- Program of operations and a three-year business plan with projections
- Structural organization, governance and internal control descriptions
- Safeguarding, security, incident, business-continuity and AML policies
- Identity and good-repute evidence for shareholders, directors and managers; proof of initial capital
Steps and timeline
The competent authority decides within three months of receiving a complete application (PSD2 Article 12, applied to EMIs by EMD2). In practice the file takes months to prepare and most regulators ask several rounds of questions before they treat it as complete.
Local notes
- Licensed under the Financial Institutions Act with the EU capital rules
- Often paired with gaming and crypto groups already supervised in Malta
Last reviewed: 2026-11-11
Cyprus
An EU passport beside Cyprus's investment firms, with a new pre-application stage that tells you early whether the file will fly.
- Regulator
- Central Bank of Cyprus
- License
- Electronic money institution (EMI)
- Initial capital
- €350,000 (EMD2 Article 4)
- Own funds
- At least 2% of average outstanding e-money (Method D)
- Statutory review
- 3 months from a complete application
- Passport
- EU and EEA
What the license allows
An electronic money institution issues e-money (prepaid value held in wallets, accounts and cards) and provides every payment service a payment institution may provide. It may hold client funds indefinitely, which a payment institution may not; it may not take deposits or lend from client funds.
Capital and safeguarding
EMD2 sets initial capital of €350,000 and ongoing own funds of at least 2% of average outstanding electronic money (Method D), or the initial capital if higher. Client funds are safeguarded in a segregated account at a credit institution or covered by insurance; they are not covered by a deposit guarantee scheme.
Requirements
- A company with its registered office and head office in the member state, and part of its business there
- Fit-and-proper qualifying shareholders and directors; local management with payments experience
- Safeguarding arrangements, a wind-down plan and professional indemnity insurance where required
- Governance, internal control, ICT and security risk management (DORA), outsourcing policy
- AML/CFT program with a compliance officer and MLRO
Documents
- Program of operations and a three-year business plan with projections
- Structural organization, governance and internal control descriptions
- Safeguarding, security, incident, business-continuity and AML policies
- Identity and good-repute evidence for shareholders, directors and managers; proof of initial capital
Steps and timeline
The competent authority decides within three months of receiving a complete application (PSD2 Article 12, applied to EMIs by EMD2). In practice the file takes months to prepare and most regulators ask several rounds of questions before they treat it as complete.
Local notes
- Licensed under the Electronic Money Law and the Payment Services Law with the EU capital rules
- A revised licensing process from 3 August 2026 starts with a pre-application exploratory stage and an initial meeting
Last reviewed: 2026-11-11
Netherlands
A northern-European passport with high supervisory standing, for payment groups that want the Dutch banking ecosystem.
- Regulator
- De Nederlandsche Bank (DNB)
- License
- Electronic money institution (EMI)
- Initial capital
- €350,000 (EMD2 Article 4)
- Own funds
- At least 2% of average outstanding e-money (Method D)
- Statutory review
- 3 months from a complete application
- Passport
- EU and EEA
What the license allows
An electronic money institution issues e-money (prepaid value held in wallets, accounts and cards) and provides every payment service a payment institution may provide. It may hold client funds indefinitely, which a payment institution may not; it may not take deposits or lend from client funds.
Capital and safeguarding
EMD2 sets initial capital of €350,000 and ongoing own funds of at least 2% of average outstanding electronic money (Method D), or the initial capital if higher. Client funds are safeguarded in a segregated account at a credit institution or covered by insurance; they are not covered by a deposit guarantee scheme.
Requirements
- A company with its registered office and head office in the member state, and part of its business there
- Fit-and-proper qualifying shareholders and directors; local management with payments experience
- Safeguarding arrangements, a wind-down plan and professional indemnity insurance where required
- Governance, internal control, ICT and security risk management (DORA), outsourcing policy
- AML/CFT program with a compliance officer and MLRO
Documents
- Program of operations and a three-year business plan with projections
- Structural organization, governance and internal control descriptions
- Safeguarding, security, incident, business-continuity and AML policies
- Identity and good-repute evidence for shareholders, directors and managers; proof of initial capital
Steps and timeline
The competent authority decides within three months of receiving a complete application (PSD2 Article 12, applied to EMIs by EMD2). In practice the file takes months to prepare and most regulators ask several rounds of questions before they treat it as complete.
Local notes
- A demanding regulator with a strong name among banks and card schemes
- Applications go through DNB's digital portal with the standard EU forms
Last reviewed: 2026-11-11
Luxembourg
The passport of choice for large payment groups, with a regulator that expects real substance in the Grand Duchy.
- Regulator
- Commission de Surveillance du Secteur Financier (CSSF)
- License
- Electronic money institution (EMI)
- Initial capital
- €350,000 (EMD2 Article 4)
- Own funds
- At least 2% of average outstanding e-money (Method D)
- Statutory review
- 3 months from a complete application
- Passport
- EU and EEA
What the license allows
An electronic money institution issues e-money (prepaid value held in wallets, accounts and cards) and provides every payment service a payment institution may provide. It may hold client funds indefinitely, which a payment institution may not; it may not take deposits or lend from client funds.
Capital and safeguarding
EMD2 sets initial capital of €350,000 and ongoing own funds of at least 2% of average outstanding electronic money (Method D), or the initial capital if higher. Client funds are safeguarded in a segregated account at a credit institution or covered by insurance; they are not covered by a deposit guarantee scheme.
Requirements
- A company with its registered office and head office in the member state, and part of its business there
- Fit-and-proper qualifying shareholders and directors; local management with payments experience
- Safeguarding arrangements, a wind-down plan and professional indemnity insurance where required
- Governance, internal control, ICT and security risk management (DORA), outsourcing policy
- AML/CFT program with a compliance officer and MLRO
Documents
- Program of operations and a three-year business plan with projections
- Structural organization, governance and internal control descriptions
- Safeguarding, security, incident, business-continuity and AML policies
- Identity and good-repute evidence for shareholders, directors and managers; proof of initial capital
Steps and timeline
The competent authority decides within three months of receiving a complete application (PSD2 Article 12, applied to EMIs by EMD2). In practice the file takes months to prepare and most regulators ask several rounds of questions before they treat it as complete.
Local notes
- The home of PayPal's and Amazon's European payment licenses
- The CSSF expects substance in Luxembourg and a detailed outsourcing framework
Last reviewed: 2026-11-11
Singapore
E-money in Singapore, under a single payment-services license that can carry wallets, transfers, acquiring and crypto.
- Regulator
- Monetary Authority of Singapore (MAS)
- License
- Major Payment Institution license for e-money issuance (Payment Services Act 2019)
- Base capital
- S$250,000, plus a security deposit
- Safeguarding
- Customer money safeguarded in trust, by guarantee or insurance
- Management
- At least one executive director resident in Singapore
What the license allows
E-money issuance above the standard-institution thresholds needs a Major Payment Institution license. The same license can carry account issuance, domestic and cross-border transfers, merchant acquisition and digital payment token services.
Requirements
- A Singapore company with a permanent place of business and a resident executive director
- Fit-and-proper controllers and directors
- Safeguarding of customer money, technology risk management and AML/CFT notices
- Base capital maintained at all times, with a security deposit for a major institution
Last reviewed: 2026-11-11
Hong Kong
Hong Kong's wallet license: a high capital bar and a protected float, for e-money schemes serving Hong Kong and the region.
- Regulator
- Hong Kong Monetary Authority (HKMA)
- License
- Stored Value Facility (SVF) license, Payment Systems and Stored Value Facilities Ordinance
- Paid-up capital
- HK$25,000,000
- Float
- The stored value float is protected in a trust or by a bank guarantee
What the license allows
Prepaid wallets and cards that store value for payments need an SVF license from the HKMA, unless the scheme is a bank or falls under a small exemption. Licensees may also offer payment and remittance features around the stored value.
Requirements
- A Hong Kong company with a principal place of business in Hong Kong
- Fit-and-proper controllers, directors and chief executive
- Float protection, prudent management of the float, and risk management for technology and AML
Last reviewed: 2026-11-11
EMI license tiers: passport, home market or Asian hub
The EU rules give one capital figure and one clock; Singapore and Hong Kong run e-money under their own laws.
EU passport
- Regulators
- Bank of Lithuania, Central Bank of Ireland, MFSA, Central Bank of Cyprus, DNB, CSSF
- Initial capital
- €350,000
- Client funds
- Segregated at a credit institution or insured
- Time frame
- 3 months from a complete application (statutory)
- Verdict
- One license for every EU and EEA state; choose the regulator by its practice and its banking access.
United Kingdom
- Regulators
- FCA
- Initial capital
- €350,000; small EMIs register under lighter rules
- Client funds
- Safeguarded under the FCA's CASS 15 rules since 7 May 2026, with daily reconciliations and annual audits
- Time frame
- 3 months (complete) or 12 months (incomplete), statutory
- Verdict
- The UK market alone, with a lighter route for small issuers.
Singapore
- Regulators
- MAS
- Initial capital
- S$250,000 base capital and a security deposit above the standard thresholds; S$100,000 below them
- Client funds
- Safeguarded in trust, by guarantee or by insurance
- Time frame
- Ask us
- Verdict
- E-money inside a modular license that can also carry transfers, acquiring and crypto.
Hong Kong
- Regulators
- HKMA
- Initial capital
- HK$25,000,000 paid up
- Client funds
- Float protected in a trust or by a bank guarantee
- Time frame
- Ask us
- Verdict
- A high capital bar for wallet schemes serving Hong Kong.
Sources
- Directive 2009/110/EC on electronic money institutions (EMD2), EUR-Lex
- FCA: Payment Services Regulations and E-Money Regulations
- FCA: our approach to payment services and e-money, May 2026 (initial capital, chapter 3)
- FCA: PS25/12, changes to the safeguarding regime (in force 7 May 2026)
- MAS: payment services regulation
- HKMA: regulatory regime for stored value facilities (21 October 2025)
- HKMA: explanatory note on SVF licensing (paid-up capital of HK$25 million)
Last reviewed: 2026-11-11
Safeguarding and the other checks on an EMI
Safeguarding is the part of the file that sets an e-money issuer apart from other payment firms.
- Client funds kept apart from the institution's own, in a segregated account at a credit institution or covered by insurance
- No lending and no deposits: an EMI may not lend client funds or take deposits
- Not a bank deposit: safeguarded funds are outside any deposit guarantee scheme
- Own funds that follow the average outstanding e-money (Method D), never below the initial capital
- A wind-down plan that shows how client funds are returned if the business stops
- ICT and security risk management under DORA, with incident and business-continuity policies
- Local management with payments experience, and qualifying shareholders the regulator approves
Who does what in an EMI license application
What we do
- Size the e-money business: the float, the flows and the own funds they require
- Write the safeguarding, wind-down and AML policies with you
- Prepare the program of operations and the three-year plan the regulator reads
- Answer the regulator's rounds of questions until the file is complete
- Prepare the safeguarding and operating account applications that follow the license
What you provide
- The initial capital and evidence of its source
- Managers with payments experience, based where the regulator expects them
- The product design: how funds come in, how they are held and how they leave
- The technology and security documentation for the ICT review
How to get an EMI license: the order of the setup
The product's money flows decide the license, so they are mapped before anything is filed.
- 1Map the money flowsHow funds come in, how long they stay and how they leave decide between an EMI and a payment institution license.
- 2Form the companyThe license goes to a company with its head office in the licensing state, so the company and its managers come first.
- 3Apply for the licenseThe regulator reviews the program of operations, the capital, the people and the safeguarding plan together.
- 4Open the safeguarding accountA credit institution holds the client funds, and it reviews the license before it opens the account.
- 5Connect payment schemesCard schemes, SEPA and acquirers review the license and the accounts, so they come last. In Lithuania, CENTROlink gives direct SEPA access without a sponsor bank.
Your choice, our commitment
Your business model
The structure follows how your business works and where it operates.
Your resources
We start from the documents and people you already have, and say clearly what is still needed.
Support
Questions about the company, the accounts and the license are handled in one conversation.
Clear next steps
You see what each step involves before you decide to go ahead.
EMI license questions
Still have a question?
Talk to usWhat is an EMI license?
The authorization an electronic money institution needs to issue e-money and provide payment services around it. EU law sets it in the second Electronic Money Directive (EMD2); the UK keeps the same rules in the Electronic Money Regulations 2011.
What is the difference between an EMI and a payment institution?
The holding time. An EMI issues e-money and may hold client funds for as long as the client keeps a balance; a payment institution moves money and keeps it only while a payment is under way. The EMI starts with more initial capital; a payment institution's capital depends on the services it lists.
How much does an EMI license cost?
The initial capital is fixed by law in the EU and the UK, and the own funds you keep rise with the e-money you hold; Singapore and Hong Kong set their own rules. Each regulator adds its own application and supervisory fees. The capital is under What it costs above and in each row; our own fees are set out after the consultation.
How do Lithuania, Malta and Cyprus compare for an EMI license?
The capital and the statutory clock are the same in all three; the regulator is what differs. Lithuania publishes its timeline and gives direct SEPA access through CENTROlink. Malta suits groups it already supervises for gaming or crypto. Cyprus now starts with a pre-application stage that tells you early whether the file will fly.
Can a UK EMI license serve clients in the EU?
No. The UK kept the EU capital rules after Brexit but not the passport; an EU client base needs an EMI authorized in a member state.
Is there a small EMI license?
In the UK, a small EMI can register instead of seeking full authorization, as long as its average outstanding e-money stays under the threshold. Lithuania has a restricted EMI license for business in Lithuania only. Neither reaches other countries.
Are client funds at an EMI protected like a bank deposit?
No. They are safeguarded: kept apart from the EMI's own money at a credit institution, or covered by insurance. They are not covered by a deposit guarantee scheme.
Is an EMI license guaranteed?
No. The regulator decides, usually after several rounds of questions. We prepare the application so the program of operations, the safeguarding plan and the figures agree.
Used in these setups
What comes next
Each service leads to the next: the structure, then the accounts, then the payments and the license.
