What does EMI stand for?

[Brutus]

I see EMI being used accross multiple threads but dont know what it stands for. Anyone care to specify?

 

[Milky Moon]

Electronic Money Institutes.

They can provide a IBAN (bank account), they can provide a payment‌ card, but thet cannot provide loans, nor are your funds insured. The latter two setting‍ them apart from banks.

 

[Internationaloff]

An EMI account can provide an‍ IBAN (unique or shared) and Debit Card (Mastercard or VISA).

PS: Some of them allow⁠ sending and receiving swift transfers. thu&¤#