What is an E-Money Institution?

An E-Money Institution (EMI) is a legally authorised entity with the power to issue electronic money. At 3S Money, we operate as an FCA, CSSF, and DIFC-regulated EMI - empowering clients to send and receive funds across 190+ countries and territories.

EMIs exist in different forms, but they usually offer some (or all) of the following:

  • Issuance, distribution, and redemption of electronic money.

  • Provision of payment services that facilitate e-money transactions.

  • Distribution of payment cards enabling conversion of e-money into physical currency or cash deposits onto cards for electronic use.

What is electronic money?

Electronic money (e-money) is a form of digital currency stored on hardware or software products, facilitating seamless payments. Unlike cryptocurrency, e-money is backed by traditional fiat currency. It resembles digital cash with properties akin to physical currency. For instance, holding e-money doesn't accrue interest.

E-money exists in two forms: hardware-based products that use physical devices like prepaid cards and software-based solutions accessed via mobile phones or computers. By adopting e-money, you're essentially swapping cash for an alternative payment method. Unlike debit or credit cards, e-money transactions don't require third-party authorisation.

Is an Electronic Money Institution a bank? 

EMIs differ from traditional banks in their services and regulatory scope. 

EMIs don't provide investment, deposit, or credit services, while banks typically offer these. Both institutions can provide customers with unique IBAN payment accounts, with EMIs often including debit card options for added flexibility.

Are Electronic Money Institutions Safe? 

EMIs implement rigorous safeguards to ensure the security of customer funds. These measures align with stringent regulatory standards set by regional authorities. 

EMIs must adhere to specific regulations that separate customer funds from the institution's operational capital. This practice safeguards customers' money in unforeseen circumstances, ensuring their funds remain secure and accessible. 

With the oversight of regulatory bodies and robust safety protocols, using EMIs in these regions is a reliable and safe choice for managing and transacting money.

Discover why 3S Money is your reliable EMI partner for global financial operations.

Last updated: 04/03/24

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© 3S Money Club Limited 2019-2024. All rights reserved. 3S Money and 3s.money are trading names of 3S Money Club Limited. 3S Money Club Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for issuing of electronic money and the provision of payment services with FCA registration number 900918. 3S Money Club Limited is registered in England and Wales, Company Number 8574246, with its registered office address at 45 Folgate Street, London, E1 6GL, United Kingdom. 3S Money Club Limited is registered with The United Kingdom Information Commissioner's Office with ICO registration number ZA495485. 3S Money Club Limited (DIFC Branch) is regulated by the Dubai Financial Services Authority (DFSA) with DFSA reference number F007004, authorising it under Article 48 of the Regulatory Law 2004 to carry on the Financial Services comprised in Issuing Payment Instruments and Providing or Operating a Payment Account. 3S Money Club Limited (DIFC Branch) is registered in Dubai International Financial Centre, Licence Number CL5587, with its registered office address at Central Park Towers, office 20-54, DIFC, Dubai, UAE. 3S Money (Luxembourg) S.A. is authorised by the Commission de Surveillance du Secteur Financier (CSSF) under the law of 10 November 2009 on payment services for issuing, distribution and refund of electronic money with CSSF registration number W00000016. 3S Money (Luxembourg) S.A. is registered in Luxembourg, R.C.S number B245715, with its registered office address at 25C, Boulevard Royal, L- 2449, Luxembourg, Grand Duchy of Luxembourg