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State Supported Loans

State supported loans are the types of loans where the state takes the position of a lender. The terms and conditions of state supported loans are generally limited to specific financial activities or enterprises. They offer both long-term and short-term repayment...

Society for Worldwide Interbank Financial Telecommunication (SWIFT)

Society for Worldwide Interbank Financial Telecommunication, or SWIFT, is a messaging system for global bank-to-bank electronic fund transfers. The SWIFT infrastructure is installed on a network with more than 11,000 member institutions. Each member of the Society for...

SEPA Direct Debit

SEPA Direct Debit, or SDD, is a payment scheme that allows recurring Euro transactions across the SEPA member countries. It is mainly used for paying bills and subscriptions by allowing consumers to automate their payments. There are two types of SEPA Direct Debit...

SEPA Instant Credit Transfer

SEPA Instant Credit Transfer, also known as SEPA Instant Payment or SCT Inst, is a payment scheme that provides instant crediting for merchants and suppliers. The scheme is emerged upon the need for a pan-European payment system and harmonise the transactions in a...

SEPA Credit Transfer (SCT)

SEPA Credit Transfer, or SCT, is a payment scheme that facilitates electronic payments between two different bank accounts. SEPA Credit Transfer is based on straight-through-processing which bundles initiation, processing and reconciliation without any deduction from...

Single European Payments Area (SEPA)

Single European Payments Area, or SEPA, is an initiative that streamlines the cashless Euro transactions across 36 member countries in Europe. Single Euro Payments Area brings a single payment scheme for all the members to enable both time and cost-effective...

Strong Customer Authentication (SCA)

Strong customer authentication, or SCA, is a regulation set by PSD2 for Payment Service Providers (PSPs) for their customer authentication methods. SCA increases the security of payments by mandating Multi-Factor Authentication (MFA) in every electronic payment....

Safeguarding Audit

A safeguarding audit is an annual audit conducted by regulator bodies to review fund segregation operations of PIs or EMIs. After the audit is completed, the institution receives a report with gap analysis and remediation plan from the regulator. The institution is...

Small PI License

Small Payment Institution License, or Small PI License (SPI License), is an obligatory license for any Small PI to provide payment services. There is a set of mandatory requirements changing from country to country to be met by the Small PI. For example, in the UK,...

Small EMI License

Small Electronic Money Institution License, or Small EMI License, is required for any Small EMI to enable its capability to issue electronic money and operate payment services. Small Electronic Money Institutions must comply with the standards of their regional...

Segregated Client Funds

Segregated accounts are used in order to separate client funds and institutions’ operational funds. Segregation of client funds is a primary obligation for any Payment Institution (PI) or Electronic Money Institution (EMI) to acquire a license and operate. One type of...

Safeguarding Acknowledgment Letter

A safeguarding acknowledgement letter is a formal document addressed to a regulatory body as an assurance that a safeguarding account is successfully opened and operating for an institution. The letter is sent by the bank that opens the safeguarding account. It is an...

Statement Letter

A statement letter is basically a document sent by a bank to state the summary of all financial activities of a business. Statement letters may be requested by financial institutions or regulators to evaluate the financial activities and capabilities of a business...

Safeguarding Requirements According to PSD2

Every Authorised Payment Institution (PI) and Electronic Money Institution (EMI) in the European Union must comply with the safeguarding requirements as instructed in the Payment Services Directive 2 (PSD2). Article 10 (points 1 to 6 of Annex I) in PSD2, it is...

Safeguarding Account

A safeguarding account operates as a segregated account to keep clients’ funds separated from a company’s working capital. Obtaining a safeguarding account is compulsory for Electronic Money Institutions (EMIs) and Payment Institutions (PIs). A safeguarding account...

Small Payment Institution (SPI)

A Small Payment Institution, also known as Small PI or SPI, is a type of payment service provider with limited volumes of monthly transactions. For a Small Payment Institution, the monthly average of the yearly amount of transactions shall not exceed 3,000,000 Euros....

Small E-Money Institution (SEMI)

A Small E-Money Institution, also known as Small EMI or SEMI, is a type of Electronic Money Institution with the ability to issue electronic money. It is limited to providing payment services only. Small E-Money Institutions cannot provide account information or...

Settlement Services

Settlement services are used in interbank operations for the balance settlement of an operation between two entities. The sending and receiving parties mostly use different banks and a final bank with settlement services is required for clearing. When an electronic...

Settlement Account

A settlement account is a transactional bank account functioning as quick access to accumulated cash. It works as a facilitator between businesses for daily settlements. A settlement account is very practical for fund accumulation and safekeeping. With ensured speed...

Segregated Bank Account

A segregated bank account keeps a company’s clients’ funds separate from the company’s own money. This allows the company to hold the clients’ funds in a separate account so that there is no chance of interference or mishandling of money that does not belong to the...

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European Merchant Bank UAB is licensed by European Central Bank (License No. 3)
Swift BIC: EUEBLT22
Bloomberg Dealing Code: EUEB

2022 Copyright © European Merchant Bank UAB. All rights reserved.
European Merchant Bank UAB is licensed by European Central Bank (License No. 3)
Swift BIC: EUEBLT22
Bloomberg Dealing Code: EUEB