{"id":7024,"date":"2023-02-15T11:42:08","date_gmt":"2023-02-15T08:42:08","guid":{"rendered":"https:\/\/faisalkhan.com\/?page_id=7024"},"modified":"2023-02-15T11:42:09","modified_gmt":"2023-02-15T08:42:09","slug":"as-the-operator-led-participant-we-can-open-an-eur-iban-account-for-processing-transactions-which-means-we-can-access-install-a-payment-application-provided-by-the-emi-holder-for-sending-tracking","status":"publish","type":"page","link":"https:\/\/faisalkhan.com\/learn\/faq\/faq-money-transfer-remittances\/as-the-operator-led-participant-we-can-open-an-eur-iban-account-for-processing-transactions-which-means-we-can-access-install-a-payment-application-provided-by-the-emi-holder-for-sending-tracking\/","title":{"rendered":"As the Operator Led participant, we can open an EUR IBAN account for processing transactions (which means we can access\/install a payment application (provided by the EMI holder) for sending\/tracking transactions). So when a customer agrees to use our service, they will send EUR to our IBAN account, is it correct?"},"content":{"rendered":"\n<p>Essentially, Yes. They are sending money to your Merchant\u2019s account, which is held under your umbrella but operated by the EMI. You cannot have access to funds that do not belong to you. I\u2019m sorry, but you will have to learn yourself on how an omnibus account works under an FBO account or pooled account<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Suggested Video(s)<\/h4>\n\n\n\n<ul>\n<li><a href=\"https:\/\/www.youtube.com\/watch?v=uccxSQid_iM\" target=\"_blank\">[277] EMI Post Brexit \u2013 Where to apply?<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.youtube.com\/watch?v=ifPHHffexT8\" target=\"_blank\">[203] Want to get your own EMI or become an EMI Agent? Consider this\u2026<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.youtube.com\/watch?v=iUZNEcW2s6U\" target=\"_blank\">[172] EMI Agents &amp; Restriction on Correspondent Agreements<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.youtube.com\/watch?v=-aULHFpj6y4\" target=\"_blank\">[139] Working with an EMI license and becoming an EMD Agent<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.youtube.com\/watch?v=3v5DIdH-1dI\" target=\"_blank\">[61] What Is An FBO (For Benefit Of) Account?<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.youtube.com\/watch?v=CtdL8VgIY2E\" target=\"_blank\">[210] Merchant Account! You cannot just get it \u2013 you have to apply and qualify for it<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Essentially, Yes. They are sending money to your Merchant\u2019s account, which is held under your umbrella but operated by the EMI. You cannot have access to funds that do not belong to you. I\u2019m sorry, but you will have to learn yourself on how an omnibus account works under an FBO account or pooled account [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"parent":6364,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_uag_custom_page_level_css":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"blocksy_meta":[],"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","gb-block-post-grid-landscape":"","gb-block-post-grid-square":"","yarpp-thumbnail":""},"post_excerpt_stackable":"<p>Essentially, Yes. They are sending money to your Merchant\u2019s account, which is held under your umbrella but operated by the EMI. You cannot have access to funds that do not belong to you. I\u2019m sorry, but you will have to learn yourself on how an omnibus account works under an FBO account or pooled account Suggested Video(s) [277] EMI Post Brexit \u2013 Where to apply? [203] Want to get your own EMI or become an EMI Agent? Consider this\u2026 [172] EMI Agents &amp; Restriction on Correspondent Agreements [139] Working with an EMI license and becoming an EMD Agent [61] What&hellip;<\/p>\n","category_list":"","author_info":{"name":"feritcinakli","url":"https:\/\/faisalkhan.com\/author\/feritcinakli\/"},"comments_num":"0 comments","featured_image_urls_v2":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","gb-block-post-grid-landscape":"","gb-block-post-grid-square":"","yarpp-thumbnail":""},"post_excerpt_stackable_v2":"<p>Essentially, Yes. They are sending money to your Merchant\u2019s account, which is held under your umbrella but operated by the EMI. You cannot have access to funds that do not belong to you. I\u2019m sorry, but you will have to learn yourself on how an omnibus account works under an FBO account or pooled account Suggested Video(s) [277] EMI Post Brexit \u2013 Where to apply? [203] Want to get your own EMI or become an EMI Agent? Consider this\u2026 [172] EMI Agents &amp; Restriction on Correspondent Agreements [139] Working with an EMI license and becoming an EMD Agent [61] What&hellip;<\/p>\n","category_list_v2":"","author_info_v2":{"name":"feritcinakli","url":"https:\/\/faisalkhan.com\/author\/feritcinakli\/"},"comments_num_v2":"0 comments","yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.5 (Yoast SEO v22.5) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>As the Operator Led participant, we can open an EUR IBAN account for processing transactions (which means we can access\/install a payment application (provided by the EMI holder) for sending\/tracking transactions). So when a customer agrees to use our service, they will send EUR to our IBAN account, is it correct? - Faisal Khan<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/faisalkhan.com\/learn\/faq\/faq-money-transfer-remittances\/as-the-operator-led-participant-we-can-open-an-eur-iban-account-for-processing-transactions-which-means-we-can-access-install-a-payment-application-provided-by-the-emi-holder-for-sending-tracking\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"As the Operator Led participant, we can open an EUR IBAN account for processing transactions (which means we can access\/install a payment application (provided by the EMI holder) for sending\/tracking transactions). So when a customer agrees to use our service, they will send EUR to our IBAN account, is it correct?\" \/>\n<meta property=\"og:description\" content=\"Essentially, Yes. They are sending money to your Merchant\u2019s account, which is held under your umbrella but operated by the EMI. You cannot have access to funds that do not belong to you. I\u2019m sorry, but you will have to learn yourself on how an omnibus account works under an FBO account or pooled account [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/faisalkhan.com\/learn\/faq\/faq-money-transfer-remittances\/as-the-operator-led-participant-we-can-open-an-eur-iban-account-for-processing-transactions-which-means-we-can-access-install-a-payment-application-provided-by-the-emi-holder-for-sending-tracking\/\" \/>\n<meta property=\"og:site_name\" content=\"Faisal Khan\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/faisalkhanpaymentconsultant\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-15T08:42:09+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@FaisalKhanllc\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/faisalkhan.com\/learn\/faq\/faq-money-transfer-remittances\/as-the-operator-led-participant-we-can-open-an-eur-iban-account-for-processing-transactions-which-means-we-can-access-install-a-payment-application-provided-by-the-emi-holder-for-sending-tracking\/\",\"url\":\"https:\/\/faisalkhan.com\/learn\/faq\/faq-money-transfer-remittances\/as-the-operator-led-participant-we-can-open-an-eur-iban-account-for-processing-transactions-which-means-we-can-access-install-a-payment-application-provided-by-the-emi-holder-for-sending-tracking\/\",\"name\":\"As the Operator Led participant, we can open an EUR IBAN account for processing transactions (which means we can access\/install a payment application (provided by the EMI holder) for sending\/tracking transactions). 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They are sending money to your Merchant\u2019s account, which is held under your umbrella but operated by the EMI. You cannot have access to funds that do not belong to you. I\u2019m sorry, but you will have to learn yourself on how an omnibus account works under an FBO account or pooled account&hellip;","_links":{"self":[{"href":"https:\/\/faisalkhan.com\/wp-json\/wp\/v2\/pages\/7024"}],"collection":[{"href":"https:\/\/faisalkhan.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/faisalkhan.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/faisalkhan.com\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/faisalkhan.com\/wp-json\/wp\/v2\/comments?post=7024"}],"version-history":[{"count":0,"href":"https:\/\/faisalkhan.com\/wp-json\/wp\/v2\/pages\/7024\/revisions"}],"up":[{"embeddable":true,"href":"https:\/\/faisalkhan.com\/wp-json\/wp\/v2\/pages\/6364"}],"wp:attachment":[{"href":"https:\/\/faisalkhan.com\/wp-json\/wp\/v2\/media?parent=7024"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}