NBB Payment Institutions Application Guide
Supervisory dossier expectations covering legal structure, fit and proper, programme of operations, governance, safeguarding, AML, ICT security and outsourcing evidence.
This regulation may be summarised but not reproduced. Article text is available from the official source. Official source →
Articles (271)
Article Section 11.1 Payment Services ...............................................................1.2 Payment Service Providers ......................................................1.3 Payment Service Users ..........................................................2.
Applying for a belgian payment institution or institution for electronic money2.1. Procedure ......................................................................2.1.1. Intake meeting..................................................................2.1.2. Submission of an application ...................................................2.1.3. Completeness check .............................................................2.2 Listing & notification .........................................................2.3 Authorisation Requirements for PI and EMI ......................................2.3.1. General principles .............................................................2.3.2. Information required from applicants for the authorisation as a payment institut2.3.3 Information required from applicants for the authorisation as an electronic mone2.4 Registration requirements for limited PI & EMI .................................2.4.1 Information required from applicants for the registration as limited payment ins2.4.2 Information required from applicants for the registration as a limited electroni2.5 Authorisation requirements for AISP only........................................3.
Requirements for licensed institutions .........................................3.1 Prudential Requirements ........................................................3.1.1 Governance requirements ........................................................3.1.2 Safegaurding requirements ......................................................3.1.3 Passporting procedures and Belgian agents/distributors .........................3.1.4 Fit & proper procedures ........................................................3.1.5 AML/CTF expectations ...........................................................3.1.6 Capital expectations ...........................................................3.1.7 Qualified holdings in a Belgian payment institution or e-money institution......3.1.8 Prudential Reporting ...........................................................3.1.9 Digital operational resilience requirements ....................................3.1.10 Non-Exhaustive list of other prudential procedures/notifications/requirements ..3.2 Contact between NBB and the institution ........................................3.3 Fees............................................................................4.
Contact information ............................................................4.1 Contacts .......................................................................4.1.1 NBB Prudential Supervision team ................................................4.1.2. NBB Anti-Money Laundering team (TA) ............................................4.1.3 FinTech Single Point of Contact (SPOC) .........................................4.1.4 NBB technical support OneGate and supervision portal ...........................4.1.5 NBB technical support OneGate and supervision portal ...........................4.2 Links ..........................................................................4.2.1 NBB website Prudential Supervision on Payment institutions and electronic money4.2.2 Overview of the legal framework under PSD2......................................4.2.3 NBB website regarding OneGate...................................................4.2.4 Financial Services and Markets Authority (FSMA) ................................4.2.5 Federal Public Service Economy, SMEs, Self-employed and Energy .................4.2.6 European Banking Authority (EBA) ...............................................5.
Annexes ........................................................................1.1 PAYMENT SERVICES1. Services enabling cash to be placed on a2. Services enabling cash withdrawals from a3. Execution of payment transactions, including4. Execution of payment transactions where the6. Money remittance.7. Payment initiation services.8. Account information services1.2 PAYMENT SERVICE PROVIDERS1.3 PAYMENT SERVICE USERS2. APPLYING FOR A BELGIAN PAYMENT INSTITUTION OR2.1.1. INTAKE MEETING2.1.2. SUBMISSION OF AN APPLICATION4.1. The letter should however refer to the method and date by which the file was or2.1.3. COMPLETENESS CHECK2.2 LISTING & NOTIFICATION2.3.1. GENERAL PRINCIPLES2.3.2. INFORMATION REQUIRED FROM APPLICANTS FOR THE2. Programme of operations3. Business Plan5. Evidence of complying with initial capital requirements6. Measures to safeguard the funds of payment service users (applicable to payment7. Governance arrangements and internal control mechanisms8. Procedure for monitoring, handling and following up on security incidents and9. Process for filing, monitoring, tracking and restricting access to sensitive pay10. Business continuity arrangements11. The principles and definitions applicable to the collection of statistical data12. Security policy document13. Internal control mechanisms to comply with obligations in relation to money14. Identity and suitability assessment of persons with qualifying holdings in the15. Identity and suitability assessment of directors and persons responsible for the16. Identity of statutory auditors and audit firms17. Professional indemnity insurance or a comparable guarantee for payment2. Programme of operations3. Business plan5. Evidence of initial capital6. Measures to safeguard the funds of electronic money users7. Governance arrangements and internal control mechanisms8. Procedure for monitoring, handling and following up on security incidents and9. Process for filing, monitoring, tracking and restricting access to sensitive pay10. Business continuity arrangements11. The principles and definitions applicable to the collection of statistical data12. Security policy document13. Internal control mechanisms to comply with obligations in relation to money14. Identity and suitability assessment of persons with qualified holdings in the15. Identity and suitability assessment of directors and persons responsible for the17. Professional indemnity insurance or a comparable guarantee for payment2.4 REGISTRATION REQUIREMENTS FOR LIMITED PI & EMI2.4.1 INFORMATION REQUIRED FROM APPLICANTS FOR THE1. Programme of operations2. Business plan3. Evidence of complying with initial capital requirements4. Measures to safeguard the funds of payment service users (applicable to payment5. A description of the internal control mechanisms demonstrating compliance with6. A description of the use of branches and agents, where applicable, including:7. Identity and suitability assessment of persons with qualifying holdings in the8. Identity and suitability assessment of directors and persons responsible for the9. Identity of statutory auditors and audit firms10. Identification details11. Common and secure communication12. Security policy document13. For the offering of card-based payment instrument issuing14. For the management of payment accounts2018.
Any applicant who is granted the status of ‘limited payment institution’ may2.4.2 INFORMATION REQUIRED FROM APPLICANTS FOR THE2. Business plan3. Measures to safeguard the funds of electronic money users and/or electronic4. A description of the internal control mechanisms demonstrating compliance with5. A description of the use of branches and agents, where applicable, including:6. Identity and suitability assessment of persons with qualifying holdings in the7. Identity and suitability assessment of Directors as referred to in Article 175,9. Identification details10. Evidence of complying with initial capital requirements11. Common and secure communication12. Security policy document13. For the offering of card-based payment instrument issuing14. For the management of payment accounts2018.
Any applicant who is granted the status of ‘limited payment electronic money i3. Business plan4. Governance arrangements and internal control mechanisms5. Procedure for monitoring, handling and following up on security incidents and9. Identity and suitability assessment of directors and persons responsible for the10. Professional indemnity insurance or a comparable guarantee3.1 PRUDENTIAL REQUIREMENTS3.1.1 GOVERNANCE REQUIREMENTS3.1.2 SAFEGAURDING REQUIREMENTS3.1.3 PASSPORTING PROCEDURES AND BELGIAN1. In order to passport payment services via a branch, the NBB expects the complete2. In order to passport payment services via agent(s), the NBB expects the complete3. In order to passport services of an electronic money institution via distributor4. In order to passport payment services under the regime of free provision of serv3.1.4 FIT & PROPER PROCEDURES3.1.5 AML/CTF EXPECTATIONS3.1.6 CAPITAL EXPECTATIONS3.1.7 QUALIFIED HOLDINGS IN A BELGIAN PAYMENT INSTITUTION3.1.8 PRUDENTIAL REPORTING1.5
IDENTIFICATION OF EXTERNAL ASSETS HELD AND SHOWN ON1.5.3
TURNOVER (IN MIO EURO)1.7.1
STATISTICAL DATA ON ACCOUNT INFORMATION SERVICES AND2.1
CAPITAL ADEQUACY FOR INSTITUTIONS3.3
DETAILED SUMMARY OF FOREIGN EXCHANGE TRANSACTIONS:1.5.3
TURNOVER (IN MIO EURO)1. Concerning statistics about payment services, institutions need to report Year-T2. Concerning the calculation of own funds the NBB considers the payment volume to3.1.9 DIGITAL OPERATIONAL RESILIENCE REQUIREMENTS3.1.10 NON-EXHAUSTIVE LIST OF OTHER PRUDENTIAL3.2 CONTACT BETWEEN NBB AND THE INSTITUTIONArticle Section 1554.1 CONTACTS4.1.5 NBB TECHNICAL SUPPORT ONEGATE AND SUPERVISION4.1.6 NBB TECHNICAL SUPPORT ONEGATE AND SUPERVISION4.2.1 NBB WEBSITE PRUDENTIAL SUPERVISION ON PAYMENT4.2.2 OVERVIEW OF THE LEGAL FRAMEWORK UNDER PSD25. ANNEXESGovernance and Prudential Controls — ApplicabilityIntake Meeting
Understanding the scope and context of payment services & Electronic moneyReporting and Disclosure — GovernanceSubmission of an ApplicationPayment ServicesCapital, Liquidity and Risk — Process RequirementsCompleteness CheckPayment Service ProvidersOutsourcing and Third Parties — Evidence and RecordsPayment Service UsersSupervisory Cooperation — Testing and AssuranceGeneral Principles
Applying for a belgian payment institution or institution for electronic moneyGovernance and Prudential Controls — ReportingInformation Required from Applicants for Authorisation as a Payment InstitutionListing & NotificationReporting and Disclosure — RemediationIdentification details (EMI)Authorisation Requirements for PI and EMICapital, Liquidity and Risk — Third-Party ControlsProgramme of operations (EMI)Registration requirements for limited PI & EMIOutsourcing and Third Parties — TrainingBusiness plan (EMI)Authorisation requirements for AISP onlySupervisory Cooperation — Management ReviewStructural Organisation (EMI)
Requirements for licensed institutionsEvidence of initial capital (EMI)Ongoing Reporting and Notification ObligationsMeasures to safeguard funds of electronic money usersContact Between NBB and the InstitutionGovernance arrangements and internal control mechanisms (EMI)FeesProcedure for monitoring, handling and following up on security incidents and security-related customer complaints (EMI)
Contact informationProcess for filing, monitoring, tracking and restricting access to sensitive payment data (EMI)ContactsBusiness continuity arrangements (EMI)LinksStatistical data principles and definitions (EMI)
AnnexesSecurity policy document (EMI)Internal control mechanisms for AML/CFT obligations (EMI)Identity and suitability assessment of persons with qualified holdings (EMI)Identity and suitability assessment of directors and persons responsible for management (EMI)Identity of statutory auditors and audit firms (EMI)Professional indemnity insurance or comparable guarantee (EMI)Programme of operations (Limited PI)Business plan (Limited PI)Money remittanceEvidence of Initial Capital Requirements (Limited Payment Institution)Payment initiation servicesSafeguarding of Payment Service Users' Funds (Limited Payment Institution)Account information servicesAML/CTF Internal Control Mechanisms (Limited Payment Institution)Use of Branches and Agents (Limited Payment Institution)Suitability Assessment of Qualifying Holders (Limited Payment Institution)Suitability Assessment of Directors and Senior Managers (Limited Payment Institution)Identity of Statutory Auditors and Audit Firms (Limited Payment Institution)Identification Details (Limited Payment Institution)Common and Secure Communication (Limited Payment Institution)Security Policy Document (Limited Payment Institution)Card-Based Payment Instrument Issuing Compliance (Limited Payment Institution)Management of Payment Accounts Compliance (Limited Payment Institution)Programme of Operations (Limited Electronic Money Institution)Business Plan (Limited Electronic Money Institution)Safeguarding of Electronic Money Users' Funds (Limited Electronic Money Institution)AML/CTF Internal Control Mechanisms (Limited Electronic Money Institution)Process for filing, monitoring, tracking and restricting access to sensitive paymUse of Branches and Agents (Limited Electronic Money Institution)Business continuity arrangementsSuitability Assessment of Qualifying Holders (Limited Electronic Money Institution)The principles and definitions applicable to the collection of statistical data oSuitability Assessment of Directors (Limited Electronic Money Institution)Security policy documentIdentity of Statutory Auditors and Audit Firms (Limited Electronic Money Institution)Internal control mechanisms to comply with obligations in relation to moneyMapping of off-site and on-site checks on branches and agentsIdentity and suitability assessment of persons with qualifying holdings in theIdentity and suitability assessment of persons with qualifying holdingsIdentity and suitability assessment of directors and persons responsible for theIdentity and suitability assessment of DirectorsIdentity of statutory auditors and audit firmsIdentity of statutory auditors and audit firmsProfessional indemnity insurance or a comparable guarantee for paymentEvidence of complying with initial capital requirementsCommon and secure communicationSecurity policy documentFor the offering of card-based payment instrument issuingFor the management of payment accountsIdentification details (AISP)Programme of operations (AISP)Business plan (AISP)Governance arrangements and internal control mechanisms (AISP)Procedure for monitoring, handling and following up on security incidents and security-related customer complaints (AISP)Process for filing, monitoring, tracking and restricting access to sensitive payment data (AISP)Business continuity arrangements (AISP)Security policy document (AISP)Identity and suitability assessment of directors and persons responsible for management (AISP)Professional indemnity insurance or a comparable guarantee (AISP)Governance Requirements for Licensed InstitutionsSafeguarding RequirementsPassporting Procedures and Belgian Agents/DistributorsFit & Proper ProceduresAML/CTF ExpectationsCapital ExpectationsQualified Holdings in a Belgian Payment Institution or E-Money InstitutionPrudential Reporting