Electronic Money Institution licence (Poland)
The Electronic Money Institution licence (krajowa instytucja pieniądza elektronicznego - KIO) is issued by Polish Financial Supervision Authority (KNF) under Directive 2009/110/EC on electronic money institutions (EMD2). It can be passported to the other EU/EEA states by notification. The legal decision period is 3 months from a complete application. The application fee is EUR 1,250, payable in PLN, for the permit application. Ownership changes need the regulator's approval before completion.
At a glance
| Official name | Electronic Money Institution licence1 |
|---|---|
| Local name | krajowa instytucja pieniądza elektronicznego - KIO |
| Also known as | KIO · EMI · Krajowa instytucja pieniądza elektronicznego · Polish EMI licence · KNF EMI licence · Poland e-money institution licence |
| Issued by | Polish Financial Supervision Authority |
| Jurisdiction | Poland |
| Licence family | Electronic money institution (EMI) |
| Legal basis | Directive 2009/110/EC on electronic money institutions (EMD2)2 |
| Passporting | EU/EEA passport available |
| Application fee | EUR 1,250, payable in PLN, for the permit application1 |
| Statutory decision time | 3 months from a complete application3 |
What it lets you do
| Issuing electronic money | Issuing monetary value stored electronically against funds received, redeemable at par and accepted by third parties as payment. |
|---|---|
| Execution of payment transactions | Executing direct debits, card payments and credit transfers, including standing orders, from a payment account. |
| Money remittance | Receiving funds from a payer solely to transfer them to a payee or another provider, without opening payment accounts. |
| Issuing payment instruments and acquiring payment transactions | Issuing cards or other payment instruments to payers, and acquiring card and other payment transactions for merchants. |
| Payment initiation services | Initiating a payment order at the user's request from an account held with another provider, as in open banking. |
| Account information services | Providing consolidated online information on one or more payment accounts the user holds with other providers. |
Where it is valid
Cost
How long it takes
Statutory: 3 months from a complete application3. Observed: not published. The statutory clock usually starts only when the regulator treats the application as complete, and pauses while it waits for answers to its questions.
Buying a company that already holds it
Prior notification with an objection period. Acquiring or increasing a qualifying holding needs prior notification to the KNF, which can object within 60 working days (extendable by up to 20 working days while it waits for information). For national payment institutions the thresholds are 20%, 30% and 50% (Payment Services Act, Art. 72a); for banks they are 10%, 20%, one third and 50% (Banking Law, Art. 25). Shares acquired in breach carry no voting rights.3
Ready-made companies holding this licence: see verified positions.
EMI in other countries
| Country | Licence | Regulator | Min. capital | Application fee | Statutory time |
|---|---|---|---|---|---|
| Czech Republic | Small-scale Electronic Money Issuer authorisation | CNB | n/a | CZK 10,000 | ~1 mo |
| Czech Republic | Electronic Money Institution licence | CNB | n/a | CZK 50,000 | ~3 mo |
| Estonia | Electronic money institution operating with an exception | FI | n/a | n/a | n/a |
| Estonia | Operating licence as an electronic money institution | FI | n/a | n/a | ~3 mo |
| Germany | Electronic money institution licence | BaFin | n/a | n/a | ~3 mo |
| Ireland | Electronic Money Institution Authorisation | CBI | n/a | n/a | n/a |
| Latvia | Registered electronic money institution | LB | n/a | EUR 2,500 | ~1.7 mo |
| Latvia | Authorised electronic money institution licence | LB | n/a | EUR 5,000 | ~3.7 mo |
| Lithuania | Electronic money institution licence for restricted activity | LB | n/a | n/a | n/a |
| Lithuania | Electronic money institution licence for non-limited activity | LB | EUR 350,000 | EUR 1,463 | ~3 mo |
| Luxembourg | Electronic money institution authorisation | CSSF | n/a | EUR 30,000 | ~3 mo |
| Malta | Electronic money institution licence | MFSA | n/a | EUR 15,000 | ~3 mo |
| Netherlands | Electronic money institution licenceElectronic money institution licence (Vergunning elektronischgeldinstelling) | DNB | n/a | EUR 6,800 | ~3 mo |
| Poland | Electronic Money Institution licence | KNF | n/a | EUR 1,250 | ~3 mo |
| Slovakia | Electronic money institution licence | NBS | n/a | n/a | n/a |
| Spain | Electronic money institution authorization | BdE | n/a | n/a | ~3 mo |
| United Kingdom | Small Electronic Money Institution (SEMI) Registration | FCA | n/a | GBP 1,130 | n/a |
| United Kingdom | Authorised Electronic Money Institution (AEMI) | FCA | n/a | GBP 5,640 | ~3 mo |
Values come from each licence's page, where every figure has its source.
Laws behind it
Sources
- knf.gov.pl: oplaty i koszty · retrieved 2026-09-24
- EUR-Lex: CELEX 32009L0110 · retrieved 2026-09-24
- knf.gov.pl: zezwolenie rozpatrywanie wniosku · retrieved 2026-09-24
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