If you wish us to enter your enterprise as an exempt payment service provider in our public register, please use the "notification form "
You must first verify whether your enterprise is actually a payment service provider, based on Section 1:1 of the Financial Supervision Act (Wet op het financieel toezicht – Wft). You will find more information on this page: What is a payment service provider? The Wft specifically excludes a number of services from the definition of a payment service provider. An overview can be found here: Payment services not requiring authorization.
You will be asked in the notification form to provide legal substantiation confirming that your enterprise qualifies as a payment service provider. We recommend that you consult a legal expert to support you in the application process. This is because practice has shown that most notifications are substantially better and more complete if an enterprise has consulted a legal expert, which enables us to consider it better and more swiftly.
Conditions for exemption
We can only enter you in the public register as an exempt payment service provider if you demonstrate that you meet the conditions listed in the Exemption Regulation under the Wft (Vrijstellingsregeling Wft). Section 1a of this regulation lists the following conditions:
- The payment services you intend to provide must be listed under items 1 to 5 or 7 of the Annex to the European Payment Services Directive (2007/64/EC). Item 6 (money remittance) is not covered by Section 1a of the Exemption Regulation.
For more information, please go to: What are payment services?
- You must provide payment services in the Netherlands only.
For further information, see the Q&A: What does it mean to provide payment services in the Netherlands?
- On average, the aggregate amount in monthly payment transactions may not exceed EUR 3 million over the past twelve months.
- None of the persons who determine or co-determine the policy of your enterprise may be a person with antecedents within the meaning of Section 6(a), (b) and (d) of the Decree on Prudential Rules for Financial Undertakings (Besluit prudentiële regels Wft – Bpr) that relate to money laundering, terrorist financing, offences against property or instances of non-compliance with financial supervision legislation that constitute criminal offences.
- Your enterprise must safeguard the funds it receives from the users of its payment services, either by using a customer accounts foundation (stichting derdengelden), taking out an insurance policy or obtaining a guarantee from a bank or insurer.
Entry in the register
Once you have established that your enterprise meets the conditions listed above, you may request that we enter it in the public register as an exempt payment service provider. Please complete the notification form , sign it, enclose all required documents and send it to:
De Nederlandsche Bank NV
Expert Centre on Market Access
1000 AB Amsterdam
We will then verify whether your enterprise qualifies as a payment service provider and, if so, whether it meets all the conditions for exemption. If it does, we will enter your organisation in our public register as an exempt payment service provider and you may start providing services. If it does not, please be aware that you may require DNB authorisation and must take action in good time.
Please note: Registration as an exempt payment service provider does not mean that your enterprise becomes subject to our regular supervision. This means that you must always make explicit mention of the fact that your enterprise is not subject to our supervision when referring to your registration on your website, in your correspondence or in any other form of communication. Not being subject to our supervision does not mean, however, that your enterprise has no obligations.
Obligations of an exempt payment service provider
Pursuant to Section 1a(4) of the Exemption Regulation under the Wft, every exempt payment service provider is obliged to notify DNB of changes in its situation that are relevant to its exemption. Examples include an increase in the geographic scope of its services, e.g. if it starts providing services to parties outside the Netherlands, a change in directors' antecedents or expected payment transactions in excess of the monthly EUR 3 million threshold. If an enterprise no longer meets the conditions for exemption, the exemption ceases to apply with immediate effect by operation of law. You must therefore anticipate such changes and start preparations to apply for authorisation in good time. Otherwise, you run the risk of non-compliance and of being forced to stop providing payment services.
Furthermore, exempt payment service providers still have obligations in terms of conduct, such as those mentioned in Section 4:25d of the Wft, read in conjunction with Part 7B of Book 7 of the Dutch Civil Code. The Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten – AFM) supervises compliance. We would also emphasise that an exempt payment service provider still falls under the scope of the Anti-Money Laundering and Anti-Terrorist Financing Act (Wet ter voorkoming van witwassen en het financieren van terrorisme – Wwft). It must therefore notify FIU-Netherlands of any unusual transaction and perform customer due diligence reviews.