Electronic money institution authorization (Spain)
The Entidad de dinero electrónico (EDE) / Electronic money institution authorization is issued by Bank of Spain (BdE) under Ley 21/2011, de 26 de julio, de dinero electrónico. It can be passported to the other EU/EEA states by notification. The official register lists 12 current holders. The legal decision period is 3 months from receipt of a complete application (maximum 12 months from initial filing; failure to notify within the statutory deadline implies administrative denial).
At a glance
| Official name | Electronic money institution authorization1 |
|---|---|
| Local name | Entidad de dinero electrónico (EDE) |
| Also known as | EDE · EMI · Entidad de dinero electrónico · Spanish EMI licence · Bank of Spain EMI licence · Spain e-money institution licence |
| Issued by | Bank of Spain |
| Jurisdiction | Spain |
| Licence family | Electronic money institution (EMI) |
| Legal basis | Ley 21/2011, de 26 de julio, de dinero electrónico2 Real Decreto 778/2012, de 4 de mayo, de régimen jurídico de las entidades de dinero electrónico3 Directive 2009/110/EC on the taking up, pursuit and prudential supervision of the business of electronic money institutions (EMD2)4 |
| Passporting | EU/EEA passport available |
| Application fee | EUR 0 (The application and licensing procedure does not accrue any statutory fee)1 |
| Annual fee | EUR 0 (Banco de España does not levy annual supervisory fees on domestic EMIs)1 |
| Statutory decision time | 3 months from receipt of a complete application (maximum 12 months from initial filing; failure to notify within the statutory deadline implies administrative denial)1 |
| Public register | official register5 |
| Current holders | 125 |
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
How long it takes
Statutory: 3 months from receipt of a complete application (maximum 12 months from initial filing; failure to notify within the statutory deadline implies administrative denial)1. 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. Any natural or legal person intending to acquire or increase, directly or indirectly, a qualifying holding reaching or exceeding 10%, 20%, 30%, or 50% of the share capital or voting rights, or to acquire control of an electronic money institution, payment institution, or credit financial establishment, must submit prior notification to Banco de España under Procedure ES_BDE_C056_P247 (or ES_BDE_C056_P114 for banks). Banco de España assesses acquirer reputation, financial soundness, and AML/CFT risks within a statutory maximum period of 60 working days from written acknowledgement of receipt. Closing without non-opposition suspends voting rights and triggers administrative penalties under Ley 10/2014 and Real Decreto 736/2019.6
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
- sedeelectronica.bde.es: autorizacion entidades dinero electronico p221 · retrieved 2026-09-24
- boe.es: act · retrieved 2026-09-24
- boe.es: act · retrieved 2026-09-24
- EUR-Lex: CELEX 32009L0110 · retrieved 2026-09-24
- bde.es: Registro ServicioPagos.xlsx · retrieved 2026-09-24
- sedeelectronica.bde.es: adquisicion participaciones significativas establecimientos · retrieved 2026-09-24
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