Payment institutions with genuine operations in Estonia choose it for portal-only filing, a statutory decision deadline and exemptions that let low-volume firms start without the full licence.
Selected engagements from more than 250 licences obtained since 2013, for payment, e-money, cryptoasset and consumer credit firms.
Volkswagen
Payment InstitutionObtained Nexpay’s FCA Authorised Payment Institution licence.
Electronic Money InstitutionObtained Dzing Finance’s FCA Authorised Electronic Money Institution licence.
Obtained Orbital’s FCA Authorised Payment Institution licence.
Our realistic timeline from submission, set against the regulator’s own published figures.
Safeguarding, operating and settlement accounts opened alongside the application, so you trade on authorisation.
Candidates introduced for directors and an internal auditor, each assessed against the regulator’s standard.
A reply within three business hours and a written proposal the same day: the licence, the requirements, the cost and the timing.
You will need board directors whose education, experience and reliability the regulator checks, and an internal auditor named in the application.
One engagement and one timetable, from scoping to launch. Speak to an expert about the people, the banking and the technology for this licence.
The regulator’s requirements, capital, timing, fees and the questions firms ask, from the regulator’s own publications.
A business providing a payment service in Estonia or, through passporting, in the EU and EEA needs an operating licence from the Finantsinspektsioon. A business that will also hold customer balances applies for an EMI licence instead.
| Requirement | Amount |
|---|---|
| Account, card and other services (1–5) | €125,000 |
| Payment initiation only | €50,000 |
| Money remittance only | €20,000 |
| Exempt institutions | Thresholds below |
Own funds are maintained at or above the initial capital at all times.
| Figure | Value | Source |
|---|---|---|
| Statutory decision period | 3 months from complete documents; no later than 6 months from the application | Payment Institutions and E-money Institutions Act |
| Application preparation | 6 to 8 weeks | From instruction to submission, including banking in parallel |
| Our realistic timeline | 4 to 6 months after submission | The firm’s own figure, from the regulator’s published data and its own applications |
Figures published by the regulator are quoted as published and converted to months. The realistic timeline is the firm’s own, for a complete, well-prepared application.
| Item | Amount | Notes |
|---|---|---|
| Annual supervisory fee | Capital part plus volume part | Volume part on payment transaction volume, set annually; 0.5% of operating income for exempt and account-information-only providers |
| Initial capital | €20,000 to €125,000 | By the highest service |
| Professional fees | Fixed, in writing | Quoted after scoping |
A remittance-only firm below €1 million a month, or a firm providing account and card services below €3 million a month with less than half its income from payment transactions, may operate under an exemption. Account-information-only providers are exempt from the capital, safeguarding and prudential chapters. Exempt institutions may not open branches or passport.
An Estonian payment institution holding the full licence passports throughout the EU and EEA; exempt institutions may not.
The Finantsinspektsioon publishes the statutory grounds for refusal rather than a list of delays: non-compliance with the act, capital that is not paid up, insufficient resources or experience, own funds below the minimum, unfit managers or owners, close links that impede supervision, an intention to operate mainly elsewhere, imprecise internal rules and criminal convictions. Its 2025 yearbook flags liability insurance sized incorrectly as a recurring finding.
A payment institution needs a safeguarding account that satisfies the regulator’s requirements, an operating account and settlement accounts in the currencies it serves. The firm arranges each through institutions that serve regulated firms in Estonia and across the EU, during the application, so the firm trades on authorisation. See banking and payment processing.
Three months from complete documents and no later than six months from application. The firm plans for four to six months after submission.
The regulator publishes no application fee for payment institutions; the annual supervisory fee applies from the first year.
Yes, founded in Estonia with its head office there, and with real operations in Estonia rather than mainly elsewhere.
Remittance only below €1 million a month; other services below €3 million a month with less than half of income from payment transactions; account information only.
No. Only full licence holders passport.
A regulatory advisory firm to payment, e-money and cryptoasset companies since 2013, with more than 250 licences obtained in more than 60 countries. The firm advises on authorisation, compliance, safeguarding, banking and transactions, and builds the white-label payment and card technology its clients launch on.
A written proposal on cost, timing and requirements, the same day: speak to an expert.
This guide is general information for firms considering authorisation and is reviewed against the regulator’s published requirements. It is not legal advice; requirements and fees change, and the regulator’s current publications take precedence.
The requirements, the cost and the timing for your business, in a written proposal the same day.