FAQ

Emerald24 is an Electronic Money Institution (EMI) that provides digital accounts for holding, sending and receiving electronic money, with access to cards, foreign exchange and payment services.

Emerald24 provides digital accounts, local and international payments, foreign exchange services, and both physical and virtual cards.

No. Emerald24 is not a bank. We issue electronic money and provide payment services, but we do not offer lending, credit facilities or savings products typically associated with banks.

Emerald24 is authorised and regulated by the UK Financial Conduct Authority (FCA) as an Electronic Money Institution.

Emerald24 supports both corporate and individual clients, subject to identity verification and compliance checks.

Customer funds are safeguarded and held in segregated accounts, separate from Emerald24’s own operational funds.

No. E-money accounts are safeguarded but are not covered by the Financial Services Compensation Scheme (FSCS).

As a regulated EMI, customer funds are safeguarded but not insured as bank deposits. In the event that Emerald24 cannot continue operating, safeguarded funds would be returned to customers in accordance with applicable regulatory procedures.

Identity verification is required to comply with legal and regulatory obligations, prevent financial crime, and ensure account security.

Keep your login credentials and devices secure, monitor account activity regularly, and never share sensitive information with third parties.

For regulatory purposes, transaction records and customer data may be retained for up to five years after account closure, in accordance with applicable record-keeping requirements.

You can add funds via bank transfer or other supported funding methods available in your account dashboard.

Yes. You can receive incoming transfers using the account details provided within the platform.

Yes. International transfers are supported. Fees and processing times vary depending on the currency and destination.

Transactions or accounts may be placed under review due to regulatory requirements, unusual activity or missing documentation. These reviews are necessary to ensure compliance and account security.

Regulations require us to verify the origin of funds in order to prevent financial crime and comply with legal obligations.

Yes. Emerald24 provides foreign exchange services within the platform, allowing you to exchange supported currencies directly in your account.

Yes. Emerald24 offers physical and virtual cards for online and in-person transactions, as well as ATM withdrawals where permitted. Card issuance is subject to availability depending on the country of registration and residence of the account and cardholder.

Yes. Detailed information is available in the card section of the fee schedule.

Report it immediately via the Emerald24 platform or by contacting support. We will block the card and arrange a replacement where applicable.

Your 3DS passphrase is the last six digits of your registered mobile number.
For example, if your phone number is +44 1234 567890, your passphrase is 567890.

Emerald24 offer multi-currency IBAN accounts, including GBP, EUR, USD, AED, CHF and more, allowing you to manage international payments from a single platform.

Emerald24 does not apply predefined transaction or balance limits to your account.

However, all activity remains subject to ongoing monitoring and compliance requirements. In certain circumstances, we may request additional information or documentation to support specific transactions, in line with our regulatory obligations.

Yes. Business accounts are available for companies, subject to standard onboarding and due diligence checks.

Typically, company registration documents, ownership information, and identity documents for directors or beneficial owners are required. Additional information may be requested depending on the nature of the business activity.

Review times vary depending on the complexity of the case, the volume of documents and regulatory requirements. While many reviews are completed promptly, some may take longer in exceptional cases.

You can contact our Support Team via the Emerald24 Online Portal using the secure messaging function within your account, or by email at hello@emerald24.co.uk.

To close your account, submit an account closure request through your online portal. Before closure, please ensure there are no outstanding fees, pending transactions or obligations.

Accounts may be declined or closed due to compliance requirements, risk considerations, or if documentation cannot be satisfactorily verified. Regulatory restrictions may limit the information we are able to disclose regarding specific decisions.