Services for Electronic Money Issuers and Payment Institutions

We provide the full set of banking details needed in order to obtain the operating authorization from National Bank of Romania (NBR), as required by:

• For Electronic Money Issuers: Regulation no. 5/2019 regarding institutions issuing electronic money
• For Payment Institutions: Regulation no. 4/2019 regarding payment institutions and providers specialized in account information services and Regulation no. 5/2021 for the amendment and completion of the NBR Regulation no. 4/2019

For the institutions who chose to protect their clients’ funds received in exchange for the electronic currency, respectively for payments, we can provide a letter of confirmation containing the following information:

• the name of the credit institution where the protected accounts will be opened and the name and number of persons within your institution who will have access to those accounts;
• the draft of the contract between us from which will result that your clients’ amounts will be shown separately and will be protected from your creditors, others than the holders of money, so that they cannot seize or execute those amounts in any situation, including in case of the institution insolvency.

• The products are available to Romanian companies or to companies from other EU Member States for which the competent authorities have notified the National Bank of Romania regarding the providing of their services directly on the Romanian territory
• Currency: RON/ EUR/ USD/ GBP/ CHF/ HUF/ PLN
• Distinct record of the funds according to their purpose, by offering special current accounts:
  • Protection current accounts: opened in order to protect the funds received as a result of the issuance of electronic money. The amounts are highlighted separately from the funds intended for the activities carried out by the institution issuing the electronic currency, other than the issuance of electronic currency, and are deposited and kept in a separate open account at TECHVENTURES BANK S.A. until the redemption of the electronic currency or its transfer to another electronic currency issuer. These amounts cannot be seized or executed in any situation, including in case of the institution insolvency. The funds stored here cannot be used to conduct business operations.
  • Electronic money record accounts: special accounts used for the execution of payment operations, that highlights the operations at user level.
  • Current accounts: for the use of the institution for its own activity.

• The products are available to Romanian companies or to companies from other EU Member States for which the competent authorities have notified the National Bank of Romania regarding the providing of their services directly on the Romanian territory
• Currency: RON/ EUR/ USD/ GBP/ CHF/ HUF/ PLN
• Distinct record of the funds according to their purpose, by offering special current accounts:
  • Safeguarding accounts: opened in order to protect the funds received as a result of the payment services provided. The amounts are highlighted separately from the funds intended for the activities carried out by the payment institution, other than the activities related to payment services for clients, and, if they are still owned by the payment institution, respectively they have not been handed over to the beneficiary of the payments and have not been transferred to another payment service provider before the end of the working day following the day they were received, the funds are deposited and kept in a separate account at TECHVENTURES BANK S.A. until remittance to the payment beneficiary or transfer to another provider of payment services. These amounts cannot be seized or executed in any situation, including in case of the institution insolvency. The funds stored here cannot be used to conduct business operations.
  • Segregated accounts: special accounts used for the execution of payment operations, that highlights the operations at user level:
    • services that allow cash deposits in a payment account, as well as all operations necessary for the functioning of a payment account;
    • services that allow cash withdrawals from a payment account, as well as all operations necessary for the functioning of a payment account;
    • performing the following payment operations, if the funds are not covered by a credit line: direct debits, including single direct debits, payment operations through a s card or a similar device, credit transfer operations, including scheduled payments;
    • performing the following payment operations, if the funds are covered by a credit line opened for a user of payment services: direct debits, including single direct debits, payment operations through a payment card or a similar device, credit transfer operations, including scheduled payments;
    • issuing payment instruments and/or accepting payment operations;
    • remittance of money.
  • Current accounts: for the use of the institution for its own activity.