The benefits for using E-money institutions

  • Using an E-money institution gives you the added benefit of being able to hold funds indefinitely. This is also referred to as storing value
  • As very little interest is earnt on money in a bank account, we find more clients are turning to us as an E-Money institution, to capitalise on the timing of their exchange. They then store their funds in their e-wallet knowing that any loss of interest has been negated by a preferential exchange rate
  • An E-Money facility can be used as a temporary alternative solution for potential expats that have found themselves having to make their move abroad suddenly or quicker than expected, and who have not yet managed to get an overseas bank account in place
  • Being an E-money institution with higher permissions on the Financial Conduct Authority’s E-Money register requires higher initial capital requirements and more stringent reporting, therefore providing greater assurances for our clients
  • All client funds are held in segregated ‘client holding accounts’ safeguarded, not co-mingled and separate from the business accounts

 

 

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