Glossary A B C D E F G H I J K L M
N O P Q R S T U V W X Y Z

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 can only be set up with a bank.

A safeguarding account blocks any third-party access to the funds inside and segregates the clients’ funds to be fully secured. It protects the clients and guarantees the security of the funds in a potential event of insolvency. Thus, a safeguarding account is one of the primary requirements for acquiring a Payment Institution and Electronic Money Institution license.

A safeguarding account can only be set up with a bank, such as EMBank. Please contact EMBank for further information.

2020 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
2020 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