Cash placement on a payment account
PSD2 Annex I (1) puts cash deposits onto a payment account, and the account operations that go with it, under a payment institution (PI) licence, an EMI licence or a banking licence. A PI's initial capital runs from EUR 20,000 to EUR 125,000 depending on the services offered. All three licences carry an EEA passport.
Definition
Services enabling cash to be placed on a payment account, and the operations required to run that account.
- PSD2, Annex I (1): official text
Which licence you need
Licence families that typically permit this activity:
Where it can be licensed
| EU/EEA passport | Domestic | |
|---|---|---|
| Lithuania: Electronic money institution licence for non-limited activity | ✓ |
Frequently asked questions
Can a payment institution operate cash deposit ATMs or teller counters?
Yes. A payment institution authorised for cash placement can run cash counters, deposit machines or a partnered retail network. Every cash intake still needs anti-money-laundering controls and customer identification, whichever channel takes the money.
How does cash placement differ from accepting repayable deposits?
Money placed on a payment account with a PI or EMI can only fund payment transactions, and it earns no interest. Accepting repayable deposits to fund the institution's own lending is a bank's business alone.
Sources
- PSD2 Annex I (1) · retrieved 2026-09-24
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