FAQ · BankingQ-62072871 min read

It’s mentioned that “the funds will be kept in the custodian accounts with the EMI, which has opened with particular banks”, how are we supposed to withdraw that fund to our bank account?

The question in full

This article explains how EMIs hold funds in custodian accounts, how businesses can access them, and their role in licensing and paid-up capital.

Answer

This is for your paid-up capital and this is for “applying” for a new license, and this is NOT for sponsorship. Are you interested in sponsorship (i.e. leasing a license) or do you want to apply for your own license?

It’s mentioned that “the funds will be kept in the custodian accounts with the EMI, which has opened with particular banks”, how are we supposed to withdraw that fund to our bank account?

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