BANK ACCOUNT OPENING. CLIENT FUNDS SAFEGUARDING ACCOUNTS. EMI AGENT REGISTRATION. SEPA AND TARGET2

The banks and financial institutions in the European Union are subject to strict anti-money laundering and other prudential regulations. As a result, opening a bank account in Eurozone is a complex procedure requiring specific knowledge and experience. Account opened in the European financial institution allows fast and easy payment processing at low cost in all SEPA countries without any restrictions as home country payments.

Payment and Electronic Money Institution agent or distributor registration allows provision of the payment services for agent/distributor own clients under the partner PI/EMI license without costly and time consuming licensing procedure.

Direct access to Single Euro Payments Area (SEPA) for all European licensed Payment and Electronic Money Institutions allows processing of client payments in all SEPA zone art low cost and possibility to provide individual client  IBAN accounts.

TARGET2 access for licensed Fintech’s opens international EUR transfers outside of SEPA zone.

ECOVIS ProventusLaw provides services for the bank and electronic money account opening as well as segregated (correspondent) client funds accounts for financial institutions and FinTechs in the European banks. Payment Institution and Electronic Money institution Intermediary Agent or Distributor registration is a part of our service.