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Optal Financial Europe Limited logo

WEX

Ireland

Legal name: Optal Financial Europe Limited

2.8(92 ratings)ActiveEMI
View on register

Licence number

C176000

Authorised since

08 Mar 2019

EEA passports

29

Profile rates

Data-derived · A is broadest

Three named tiers comparing this institution against the rest of the European register.

Reach
Pan-EuropeanTier A

Passports into 29 EEA jurisdictions.

Scope
Multi-serviceTier B

Authorised for 5 payment-services activities.

Tenure
MatureTier B

Authorised 7 years ago.

About this institution

Verified active. Optal Financial Europe Limited, trading as WEX, holds a current Irish e-money licence. The licence authorises issuance of payment instruments and acquisition of payment transactions. It also permits safeguarding of customer funds, money remittance, execution of credit-line-supported payment transactions, and issuance of electronic money.

Its licence is passported into 29 host states, including Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain and Sweden.

Licence granted 8 March 2019. Authority: Central Bank of Ireland. Reference number: C176000. Status active as at the last cross-check.

Licence timeline

3 dated events

Dated events for WEX, from the register record and this directory’s daily cross-checks. Status changes are recorded as they are observed.

  1. Cross-checked against the Central Bank of Ireland register

    Automated daily verification of licence status and reference.

  2. First verified and added to this directory

  3. Licence granted by the Central Bank of Ireland

Position in the Ireland register

Ireland EMIs

30

Active

30

Full / small licences

30 / 0

Licence age rank

6/30

WEX is one of 30 e-money institutions on the Ireland register, 30 of which are currently active. Its licence is the 6th oldest of the 30 dated Ireland EMI authorisations, one of 10 granted in 2019.

Is your money safe with WEX?

WEX holds an e-money authorisation from Central Bank of Ireland, which means client money must be safeguarded: held separately from the firm's own funds at a credit institution, or covered by an equivalent insurance policy. E-money is not a bank deposit - it is not covered by a national deposit guarantee scheme, so there is no automatic compensation payout if the firm fails.

If an authorised EMI becomes insolvent, safeguarded funds sit outside the insolvency estate and are returned to customers by the administrator - repayment can take time, and administration costs may be deducted along the way.

How e-money safeguarding works → Verify on the register →

EEA passporting

29 jurisdictions

Under the EU passporting regime, WEX can provide services across the following EEA jurisdictions, in addition to its home authorisation in Ireland.

  • NorwayNorway5
  • Czech RepublicCzech Republic5
  • GermanyGermany5
  • PortugalPortugal5
  • NetherlandsNetherlands5
  • FranceFrance5
  • BelgiumBelgium5
  • SpainSpain5
  • AustriaAustria5
  • CyprusCyprus5
  • GreeceGreece5
  • MaltaMalta5
  • SlovakiaSlovakia5
  • LuxembourgLuxembourg5
  • SloveniaSlovenia5
  • EstoniaEstonia5
  • HungaryHungary5
  • LithuaniaLithuania5
  • ItalyItaly5
  • CroatiaCroatia5
  • LatviaLatvia5
  • FinlandFinland5
  • BulgariaBulgaria5
  • PolandPoland5
  • IcelandIceland5
  • RomaniaRomania5
  • LiechtensteinLiechtenstein5
  • SwedenSweden5
  • DenmarkDenmark5

Authorised activities (PSD2 / EMD2)

Payment-services activities WEX is permitted to carry out under its licence, as recorded in the register.

  • Execution of payment transactions where funds are covered by credit linePSD2_4
  • Issuance of electronic moneyEMI_ISSUANCE
  • Safeguarding of customer fundsSAFEGUARDING
  • Money remittancePSD2_6
  • Issuing payment instruments and acquiring payment transactionsPSD2_5

Frequently asked questions

Is WEX a licensed e-money institution?
Yes. WEX holds EMI authorisation from Central Bank of Ireland in Ireland, licence reference C176000. Its authorisation is currently active and is cross-checked against the EBA EUCLID register.
Who regulates WEX?
WEX is authorised and supervised by Central Bank of Ireland in Ireland. Its e-money licence and current status are listed on the EBA EUCLID register at euclid.eba.europa.eu.
What is WEX's licence or FRN number?
WEX's licence reference number is C176000. Enter it on the EBA EUCLID register at euclid.eba.europa.eu to confirm the institution's identity and that its authorisation is in force.
Is WEX authorised in other EEA countries?
Yes. WEX is passported to 29 EEA jurisdictions, meaning it can provide e-money and payment services across those countries on its home authorisation.

Sourced from the FCA Financial Services Register and the EBA EUCLID register; cross-checked daily.

Other licensed institutions in Ireland

View all institutions in Ireland →

Registered office

Street
3rd Floor Fleming Court, Flemings Place
City
Dublin 4, D04 N4X9

Ratings & reader notes

92 ratings · 0 written notes

2.8(92 ratings)
  • 5★17
  • 4★14
  • 3★16
  • 2★20
  • 1★25

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