Glossary

EMI (e-money institution)

A firm licensed to issue e-money. Safeguards funds. Not a bank. Not FSCS.

An EMI holds a payments licence to issue electronic money. Client funds must be safeguarded. That is a recovery process, not a statutory deposit-guarantee pay-out. Wise personal in the UK is the textbook EMI. A Visa logo does not upgrade the licence.

All terms