No photo available
Details - Information last confirmed on January 26, 2021
This is a unique opportunity if you are looking to buy an Authorized Payment Institution in UK.
Currently, the company has permission to do Money Transfer but there is a huge potential to grow the company.
Bank Accounts: 1 Safeguarding account and 1 operational business account will be arranged to open. The seller is happy to add opening of safeguarding accounts as condition of sale.
This API license can be easily changed to an AEMI license with a very good tracking history with FCA. An AEMI application would take around 5/6 months.
Once the company become an AEMI ( digital bank ) it can also offer the following services :
• Multi-currency exclusive IBANs
• Pre-paid cards
• Digital Account
• Services enabling cash to be placed on a payment account.
• Services enabling cash withdrawals from a payment account.
• Execution of payment transactions, including transfers of funds on a payment account with the payment service provider of the payment service user or with another payment service provider: execution of direct debits, including one-off direct debits, execution of payment transactions through a payment card or a similar device and/or execution of credit transfers, including standing orders.
• Execution of payment transactions where the funds are covered by a credit line for a payment service user: execution of direct debits, including one-off direct debits, execution of payment transactions through a payment card or a similar device and/or execution of credit transfers, including standing orders.
• Issuing and/or acquiring of payment instruments.
• Money transfers.
• Payment Initiation Service
• Account Information Service
• Issuing of Electronic Money
Disclaimer: DealStream has not independently verified any of the information in this listing and makes no warranty as to its accuracy or completeness.