Exchange institution licence (Vergunning wisselinstelling) (Netherlands)
The Exchange institution licence (Vergunning wisselinstelling) is issued by De Nederlandsche Bank (DNB) under Anti-Money Laundering and Anti-Terrorist Financing Act (Wet ter voorkoming van witwassen en financieren van terrorisme - Wwft). It is a national licence: it does not give a passport to other EU/EEA states. Ownership changes need the regulator's approval before completion.
At a glance
| Official name | Exchange institution licence (Vergunning wisselinstelling)1 |
|---|---|
| Also known as | Wisselinstelling · Dutch exchange institution licence · Netherlands currency exchange licence · DNB exchange institution licence |
| Issued by | De Nederlandsche Bank |
| Jurisdiction | Netherlands |
| Licence family | Money transmitter / money services business (MSB) |
| Legal basis | Anti-Money Laundering and Anti-Terrorist Financing Act (Wet ter voorkoming van witwassen en financieren van terrorisme - Wwft)2 Directive 2009/110/EC on the taking up, pursuit and prudential supervision of the business of electronic money institutions (EMD2)3 |
| Passporting | Domestic only |
What it lets you do
| Money remittance | Receiving funds from a payer solely to transfer them to a payee or another provider, without opening payment accounts. |
|---|---|
| Currency exchange | Buying and selling foreign currency for customers, in cash or electronically, as a bureau de change or FX service. |
Where it is valid
Buying a company that already holds it
Prior approval required. Under Section 3:95 Wft and MiCA Articles 41 and 83, acquiring, increasing, or disposing of a qualifying holding (direct or indirect holding of 10% or more of voting rights or shares, or exercising significant influence) in a payment institution, EMI, or ART issuer requires a prior Declaration of No-Objection (DNO / VVGB) from DNB (the ECB assesses banks). Threshold bandwidth upper limits are set at 20%, 30/33%, 50%, or 100%. The statutory decision period is 60 working days from receipt of a complete application, extendable once by up to 30 working days for RFIs, governed by lex silencio positivo.4
MSB in other countries
| Country | Licence | Regulator | Min. capital | Application fee | Statutory time |
|---|---|---|---|---|---|
| Australia | Registration as a remittance service providerRegistration as a remittance service provider (remittance network provider or independent remittance dealer) | AUSTRAC | n/a | n/a | n/a |
| British Virgin Islands | Money Services Business Licence, Class A or Class BMoney Services Business Licence, Class A (money/electronic/mobile money transmission) or Class B (money orders, traveller's cheques, cheque cashing, currency exchange) | BVI FSC | n/a | n/a | n/a |
| Canada | Money services business (MSB) registrationMoney services business (MSB) registration (covers foreign exchange dealing, money transferring, virtual currency dealing, crowdfunding platforms and related services; a separate foreign-MSB registration applies to businesses without a place of business in Canada that direct services at Canadians) | FINTRAC | n/a | n/a | n/a |
| Dubai International Financial Centre (DIFC) | Money transmitter licenceFinancial Services Permission for Providing Money Services restricted to Money Transmission only (Category 4) | DFSA | n/a | USD 10,000 | n/a |
| Netherlands | Exchange institution licenceExchange institution licence (Vergunning wisselinstelling) | DNB | n/a | n/a | n/a |
| United States | Registration of Money Services Business (Form 107 / RMSB) | FinCEN | n/a | n/a | ~5.9 mo |
Values come from each licence's page, where every figure has its source.
Laws behind it
Sources
- wetten.overheid.nl: BWBR0020368 · retrieved 2026-09-24
- wetten.overheid.nl: BWBR0024282 · retrieved 2026-09-24
- EUR-Lex: CELEX 32009L0110 · retrieved 2026-09-24
- dnb.nl: dno application time frame · retrieved 2026-09-24
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