Is FinXP a bank?

FinXP is not a bank, it is a European electronic money institution (EMI) licensed by the Malta Financial Services Authority. While EMIs do not hold a banking license, they are authorised to offer many of the same services, including issuing dedicated IBAN accounts, processing payments, and managing safeguarded client funds.

Founded in 2014, FinXP has opened thousands of IBAN accounts and serves a wide range of industries. As a principal member of Mastercard and a registered participant of the European Payments Council, the company provides regulated payment and banking services across Europe and beyond.

Unlike banks, EMIs like FinXP do not engage in lending and they do not use client funds for investment purposes. Instead, all client funds are held in safeguarded accounts, ensuring maximum protection and transparency.