Description
A Small EMI is a cost-effective way for businesses to enter the electronic money sector without the stringent capital and regulatory requirements of a full EMI licence. This registration allows firms to issue e-money, offer payment services, and facilitate cash deposits and withdrawals.
Key Features of a Small EMI:
✅ Regulated under the FCA – Compliance with the Electronic Money Regulations 2011 and Payment Services Regulations 2017
✅ Lower Capital Requirements – Initial capital is typically less than €350,000, with ongoing requirements at 2% of issued e-money
✅ Safeguarding Measures – Protection of customer funds via segregated accounts or insurance policies
✅ Faster Authorisation – FCA processes applications within three months of a complete submission
Services Offered by a Small EMI:
🔹 Issuing e-money (prepaid cards, e-wallets)
🔹 Money remittance and fund transfers
🔹 Payment processing (direct debits, card transactions, credit transfers)
🔹 Account information and payment initiation services
How We Help You Obtain Small EMI Registration:
🔹 Application Preparation – Business plan, compliance framework, and governance arrangements
🔹 Regulatory Compliance – AML/CTF policies, safeguarding measures, and risk management frameworks
🔹 Submission & Support – Handling FCA communication and ensuring a smooth approval process
🔹 Ongoing Compliance – Training, monitoring, and regulatory updates
With our expertise, we simplify the FCA registration process, ensuring a fully compliant and operational Small EMI for your business.
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