What does EMI mean? Is it a bank account? Still a payment processor?

[wghrhfgfs]

What does EMI mean? Is it a bank account? Still a payment processor?

 

[Sols]

EMI = Electronic Money (E-Money) Institution. It can be a lot of different things under the PSD2 (EU Payment Services Directive 2) but in this context, it usually means a financial institution which offers bank-like products such as payment accounts with IBAN and prepaid cards.

EMIs can also be payment processors, money remittance companies, and a providers of whole range of different services.

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This is the probably the answer to your question.

 

[wghrhfgfs]

Is it a service like Payoneer? Is it a service for online payment?

 

[wghrhfgfs]

Can I deposit like a bank? Can I apply for a physical debit/credit card?

 

[TurnedToRobot]

Some EMI will also offer payment processing to accept payments online i.e. visa and mastercard while others only do the same as a bank does just without credit and mortgage.

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[CaLViN]

Paypal,skrill,leopay,epayments,paysera are all EMI.
EMIs might provide swift transfers,IBANs,Credit / debit / virtual cards and a bunch of other services.

 

[wghrhfgfs]

Oh, can I save money in it?

 

[wghrhfgfs]

Oh, I probably understand what it means.

 

[CaLViN]

Yes,
you can deposit money there via swift or credit card payments.Or even cyrpto coins..

 

[wghrhfgfs]

Thank you for your help.

 

[wghrhfgfs]

I have some problems now, I don't know how to tell everyone.

 

[wghrhfgfs]

I want to find an anonymous offshore bank account, as long as my name does not appear.

 

[wghrhfgfs]

Is EMI anonymous? Can I apply anonymously? How do I deposit my money into an EMI account?

 

[Sols]

wghrhfgfs said:
I want to find an anonymous offshore bank account, as long as my name does not appear.
Click to expand...

That doesn't exist anymore. Without breaking the law, the closest you can get would be to use a nominee bank account signatory. They will still disclose your name to the bank but your name wouldn't appear on the account itself usually.

wghrhfgfs said:
How do I deposit my money into an EMI account?
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You can deposit money into EMI via bank transfer. Some, such as Revolut and TransferWise, support topping up by debit/credit card.

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This is the probably the answer to your question.

 

[wghrhfgfs]

Sols said:
That doesn't exist anymore. Without breaking the law, the closest you can get would be to use a nominee bank account signatory. They will still disclose your name to the bank but your name wouldn't appear on the account itself usually.



You can deposit money into EMI via bank transfer. Some, such as Revolut and TransferWise, support topping up by debit/credit card.
Click to expand...

Is EMI anonymous? Can I apply anonymously?

 

[Sols]

wghrhfgfs said:
Is EMI anonymous? Can I apply anonymously?
Click to expand...

No.

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This is the probably the answer to your question.

 

[wghrhfgfs]

Sols said:
No.
Click to expand...

Is it the same as applying for a bank account? Need a passport?

 

[Sols]

wghrhfgfs said:
Is it the same as applying for a bank account? Need a passport?
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Yes. EMIs operate under the same customer identity verification laws as banks.

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This is the probably the answer to your question.

 

[Mr Magoo]

if you dont want your name appearing, use darks to set up an EMI account. More info in the Mentor group section.

 

[wghrhfgfs]

Mr Magoo said:
if you dont want your name appearing, use darks to set up an EMI account. More info in the Mentor group section.
Click to expand...

"use darks to set up an EMI account" What does darks mean?