EMI account not financial institutions

[Toxigen]

Do you know some EMI accounts that are not financial institutions?

 

[DGTLOTC]

Not sure what you mean, EMI stands for electronic money institution ?

Clarify what you‌ intention is and maybe some of us can help 🙂

 

[Toxigen]

Yes ,there are some are not reporting to the tax authorities?

 

[Sols]

By the very definition of being an EMI (E-Money Institution), it is also a Financial‌ Institution. That's literally the law.

 

[JohnLocke]

I believe there are not many left any longer that are into this business without‌ to be registered as a financial service company. I don't even know if AdvCash is‍ registered or not.

 

[ontherun]

it is. and good news. they just⁠ got their ability to issue Mastercards back about 10 days ago

 

[Toxigen]

Do they ..withdraw the funds from Pp on the card too?

 

[ontherun]

In the few countries where PayPal allows withdrawals to Cards, this is always only to‌ VISA Cards. Never to Mastercards