Becoming a UK Electronic Money Institution - EMI License UK


This article looks at obtaining an Electronic Money Institution EMI license in the United Kingdom (UK). If you wish to become an Electronic Money Institution in the UK then you must prepare and submit an Electronic Money Institution license / EMI application in the UK to the Financial Conduct Authority. Buckingham Capital Consulting can help you if you become an Electronic Money Institution - EMI in the UK. An Electronic Money Institution EMI license will enable you to offer all the services of a payment institution.


Below we will look at the process of becoming an electronic money institution - EMI in the UK as well as looking at the key regulatory requirements of becoming an electronic money institution.


The regulatory framework for Electronic Money Institutions in the UK


PSD2, or the Payment Service Directive 2, is an EU Directive (Directive 2015/2366) which sets requirements for businesses that provide payment services. It applies to banks, building societies, payment institutions, electronic money institutions and their customers.

PSD aims to promote innovation within the payments sector. Furthermore, it aims to improve protection for consumers and make payments both safer and more secure.


The following laws and regulations are applicable to Electronic Money Institutions in the UK.


- The Financial Services and Markets Act 2000

- The Payment Service Directive (Directive 2015/2366)

- The Electronic Money Regulations 2011

- Directive 2009/110/EC of the European Parliament

- The Payment Service Regulations 2017

- Payments in Euro (Credit Transfers and Direct Debits) Regulations 2012

- Regulation (EC) No 924/2009

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