Application Process for Electronic Money Institutions

The purpose of this section is to provide information to firms considering applying for authorisation as an electronic money institution or registration as a small electronic money institution.  The Central Bank of Ireland (Central Bank) is the competent authority in Ireland for the authorisation and supervision of electronic money institutions under the European Communities (Electronic Money) Regulations 2011 (as amended) (EMR).

Each applicant seeking authorisation/registration must satisfy the Central Bank that it can meet the authorisation/registration standards set out in the EMR. In fulfilling its statutory role in this regard, the Central Bank adopts a robust, structured and risk-based process that seeks to ensure that only those applicants that demonstrate compliance with these authorisation requirements are authorised.

The Central Bank seeks to process each application as expeditiously as possible while meeting its obligation to operate a rigorous and effective gatekeeper function. It aims to ensure that the application process is facilitative and accessible from the perspective of applicants and, importantly, that applicants have clarity with regard to the process, its requirements and timelines.

Application Process

Key Stages in the Application Process

Service Standards Performance Reports

Read about our Service Standards Performance Reports.
The reports set out the Central Bank's performance against Service Standards that it has committed to in respect of

(i) Authorisation of Funds

(ii) Authorisation of Financial Service Providers and

(iii) Processing of Fitness and Probity applications, on a half-yearly basis.