# Cash placement on a payment account

Source page: https://protegra.io/licensing/activities/cash-placement/

Enabling cash deposits onto a payment account and managing associated account operations requires a payment institution (PI) licence, an electronic money institution (EMI) licence or a banking licence under PSD2 Annex I (1). Initial capital for a PI varies from EUR 20,000 to EUR 125,000. Authorised institutions can passport operations across the EEA.

## 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](https://eur-lex.europa.eu/eli/dir/2015/2366/oj)

## Which licence you need

Licence families that typically permit this activity:

- [Payment institution (PI)](https://protegra.io/licensing/licences/payment-institution/)
- [Electronic money institution (EMI)](https://protegra.io/licensing/licences/emi/)
- [Bank / credit institution](https://protegra.io/licensing/licences/bank/)

- [EMI · LithuaniaElectronic money institution licence for non-limited activityLB · capital EUR 350,000](https://protegra.io/licensing/licences/emi/lithuania/)

## Where it can be licensed

| | EU/EEA passport | Domestic |
| --- | --- | --- |
| [Lithuania: Electronic money institution licence for non-limited activity](https://protegra.io/licensing/licences/emi/lithuania/) | ✓ | |

## Frequently asked questions

### Can a payment institution operate cash deposit ATMs or teller counters?

Yes, licensed payment institutions authorised for cash placement may operate physical cash counters, automated deposit machines or partnered retail deposit networks. The institution must maintain strict anti-money-laundering controls and customer identification procedures for all cash intake.

### How does cash placement differ from accepting repayable deposits?

Cash placed on a payment account with a payment institution or EMI must be used strictly for executing payment transactions and cannot earn interest. Only licensed credit institutions (banks) may accept repayable deposits from the public to fund proprietary lending.

## Sources

1. [PSD2 Annex I (1)](https://eur-lex.europa.eu/eli/dir/2015/2366/oj): retrieved 2026-09-24

Last verified 2026-09-24 · Author: Danil Marmysh · Reviewed by Anastasia Sidorenkova · © Protegra. Data: CC BY 4.0, cite "Protegra Licensing Atlas". Not legal advice.