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+1 (888) 647 05 40A small e-money license in Poland is a solution addressed to entrepreneurs who supply remittance services as part of their business activities. It corresponds to all the actions necessary to maintain an account, such as depositing or withdrawing money, transferring funds or making money transfers. In the case of SEMI, the average monthly amount of such transactions cannot exceed EUR 1,500,000 per year.
According to the clarifications of the law, a SEMI can be defined as an entity – a legal entity or an organizational unit that is not a legal entity, but which is granted legal capacity by the Law – that has been entered into the register of establishments with e-money and conducts business activities that provide any payment services, except for initiating payment orders or accessing account info.
SEMI-licensed companies have the same rights as regular payment institutions. They can carry out payment transactions both online and offline.
An institution can open sub-accounts for its clients within its bank account, which gives it the ability to create accounts. Clients, in turn, can exchange cash for the electronic equivalent of coins and banknotes issued by the company and store them in their account.
To get SEMI license in Poland, the KNF will send the authority a request for a list of internal documents and several statements, among other things:
A correctly completed and paid application for registration of a SEMI can be submitted both electronically and in a traditional way.
If the applicant wants to solve this problem online, he or she can use the Electronic Public Administration Services Platform through the box of the Office of Financial Supervision.
However, the application for registration of a SEMI can also be sent by regular mail to the address of the Financial Control of Poland. The application can also be submitted in person to the Office of the FSA of Poland in Warsaw.
As part of its activities, a SEMI can carry out all operations necessary for maintaining a payment account. In particular, cash deposits and withdrawals from payment accounts are allowed. Its work allows you to transfer funds to the account of the selected provider and carry out monetary transactions.
It is worth knowing that a SEMI in Poland license for sale can issue its own payment instruments, as well as execute payment orders with their help.
A small EMI can keep the funds of its users in its payment accounts. It should be noted that the total amount of funds accepted per user at any time cannot exceed the equivalent of 2,000 euros. This amount is calculated on the basis of the average exchange rate announced by the National Bank of Poland effective on the last day of the month preceding this day.
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