DSBCF bank, review?

[lonizzita]

Hello

know this EMI: UAB "DSBC Financial Europe"

I searched all over the web but I didn't find anyone's reviews,
talking to them they said they have been open for 3 years.

what do you think? can i trust them?

 

[Sols]

They are not an EMI (Electronic Money Institution). They are a PI (Payment Institution). They are not themselves authorised to hold your funds and instead work with partner banks.

Compare for example DSBC with Paysera:
https://www.lb.lt/en/enforcement-measures-1/view_license?id=426https://www.lb.lt/en/enforcement-measures-1/view_license?id=251
Compare the different activities listed.

Claiming to have been in business for three years is brave when their license was issued in November 2017 and it's March 2020 now.

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This is the probably the answer to your question.

 

[lonizzita]

Sols said:
They are not an EMI (Electronic Money Institution). They are a PI (Payment Institution). They are not themselves authorised to hold your funds and instead work with partner banks.

Compare for example DSBC with Paysera:
https://www.lb.lt/en/enforcement-measures-1/view_license?id=426https://www.lb.lt/en/enforcement-measures-1/view_license?id=251
Compare the different activities listed.

Claiming to have been in business for three years is brave when their license was issued in November 2017 and it's March 2020 now.
Click to expand...

what difference is there? PI and EMI?
PI are not protected?

so you're advising me, to avoid going with them

Last edited: Mar 28, 2020

 

[Sols]

In short, the difference is that PIs can't do all the things an EMI can do. Both need to maintain certain adequate capital and segregate customers' balances, so in terms of safety of funds, there shouldn't be any difference. But a PI can't hold a balance for a customer for any significant length of time, so the funds need to either be held with a partner bank (akin to a correspondent account) or be quickly moved to another financial institution. There are other differences between PIs and EMIs, too.

For an example, you can see the difference by visiting the two links I posted and compare the different activities with Paysera, which is a well-established and mature EMI.

I am not advising anything.

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This is the probably the answer to your question.

 

[JohnLocke]

Thread moved to the proper forum!

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[Granwasa]

Good morning OP,
I hope to find you very well.
Here you can find a quite comprehensive review about DSBC Financial Europe and its mirror company in Cyprus.
REVIEW.

I hope to have been helpful.
Granwasa.