Emi's life

[Bmw850]

Hi
I'm not very good about Emi's, I m an old school guy ( high Street banks lover ).
My only first and bad experience is with Leopay/satabank.
Through this useful forum , I begun to show interests on Emi, and more particularly on Mistertango.
Actually taking step back , with the new threads and notes on trustpilot.
Anyway, I was just thinking, in fact all those Emi's work well let's say the first-second year and then , everything is falling , Am I right?

 

[Martin Everson]

Yes your right.

Compliance requirements are getting tougher each day for EMI's and most EMI's are not equipped to adapt to the changing landscape which requires greater due diligence and know your customer.

Problem with MT is that they will be out of business soon if their KYC demands are too invasive. After all why would you go to an EMI for a HSBC like interrogation experience 🙁.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.