EMIs & payment institutions

What an EMI is

An electronic money institution (EMI) is licensed to issue e-money and provide payment services, but not to lend or take deposits like a bank. Client funds are held in safeguarding accounts at partner banks. For payment companies, EMIs are often the most accessible way to get an IBAN account, multi-currency balances and instant transfers. A related category, the payment institution (PI), offers payment services without issuing e-money.

Why payment businesses use EMIs

• Faster, mostly online onboarding compared with traditional banks.
• Virtual IBANs to assign to merchants or clients and reconcile automatically.
• SEPA Instant, Faster Payments and SWIFT through one API.
• Some EMIs serve high-risk segments — iGaming, forex, crypto-related businesses — that banks avoid.
• Card issuing and payout products built on top of the account.

Risks to understand

• Safeguarded money is protected differently from bank deposits; read how the EMI segregates funds.
• EMIs depend on partner banks — if a partner exits, services can change at short notice.
• Account limits and enhanced checks can apply as turnover grows.
• Not every EMI can serve every country of incorporation or every industry.

How to choose an EMI business account

• Licence type and regulator; where the EMI passports its services.
• Currencies, rails and correspondent coverage you actually need.
• Pricing: opening fee, monthly fee, per-transfer charges, FX margin.
• API quality and support for bulk payouts.
• Policy on your vertical and on non-resident companies.

By country

EMI pages by jurisdiction: UK, Lithuania, Malta, Latvia, Poland. If you want your own licence instead, see payment licensing; for card programmes on top of an account, see BIN sponsors & BaaS.

Nominal hub lists institutions but does not open accounts on their behalf. Check Offers or post a request.