Licensed and regulated companies
Safeguarding of customers' funds — policy and account documentation
The safeguarding policy for customers' funds and the documentation of the safeguarding account.
In short
The safeguarding policy for customers' funds and the documentation of the safeguarding account. The price is from €2,400, excluding VAT. How long it takes: usually within 7 working days after we have received the necessary information. It is ordered and paid on micaconsult.com.
Who it is for
Payment and e-money institution applicants.
Price
| Service | Price | Order |
|---|---|---|
| Safeguarding of customers' funds — policy and account documentation | from €2,400 | Order |
All prices are in euros and exclude VAT. VAT is added where it applies under the Estonian Value Added Tax Act.
What the price includes
- Safeguarding policy (segregation in a credit institution account or insurance / guarantee method)
- Daily reconciliation procedure
- Records and account designation letters
- Safeguarding audit readiness
- Safeguarding policy
- Reconciliation procedure
- Account documentation checklist
Not included in the price
- Opening the safeguarding account with a bank
State and notary fees
State fees and the fees of the supervisory authority are not included in the price; you pay them yourself.
Requirements
Funds must be segregated or insured as the law requires. FIU licence FIU000117 is LexorCorp's own licence for its trust and company services; it does not authorise the client.
Documents and information we need from you
- Planned flows of funds
- Bank relationships
Process
- You: Provide information, capital and people that meet the legal requirements; sign and answer the authority's questions.
- LexorCorp: Prepare the application and its documents and manage the procedure until the decision.
- Authority: Finantsinspektsioon assesses safeguarding in the application.
How long it takes
Usually within 7 working days after we have received the necessary information
Prepared for your company: usually delivered within 7 working days after we have received the necessary information.
Law and requirements
- Payment Institutions and E-money Institutions Act — safeguarding
General information about our service, not legal advice.
Questions and answers
Safeguarding of customers' funds: what does it cost?
From €2,400, excluding VAT. State fees and the fees of the supervisory authority are not included in the price; you pay them yourself.
Safeguarding of customers' funds: who is it for?
Payment and e-money institution applicants.
Safeguarding of customers' funds: how long does it take?
Usually within 7 working days after we have received the necessary information
What is not included in the price?
Opening the safeguarding account with a bank.
Who makes the decision?
Finantsinspektsioon assesses safeguarding in the application.
Related services and add-ons
- Estonian payment institution authorisation — application preparation and management — from €16,000
- Estonian e-money institution (EMI) authorisation — application preparation and management — from €23,000
- Banking and payment partner introductions — from €3,900
- AML/CFT internal rules, risk assessment and procedures — from €3,200
Part of
- Licensed and regulated companies — from €3,500
Order: Safeguarding of customers' funds · from €2,400 See it in the price list