Profile rates
Data-derived · A is broadestThree named tiers comparing this institution against the rest of the European register.
- Reach
- Pan-EuropeanTier A
- Scope
- Multi-serviceTier B
- Tenure
- MatureTier B
Passports into 29 EEA jurisdictions.
Authorised for 5 payment-services activities.
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 eventsDated events for WEX, from the register record and this directory’s daily cross-checks. Status changes are recorded as they are observed.
Cross-checked against the Central Bank of Ireland register
Automated daily verification of licence status and reference.
First verified and added to this directory
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.
EEA passporting
29 jurisdictionsUnder the EU passporting regime, WEX can provide services across the following EEA jurisdictions, in addition to its home authorisation in Ireland.
Norway5
Czech Republic5
Germany5
Portugal5
Netherlands5
France5
Belgium5
Spain5
Austria5
Cyprus5
Greece5
Malta5
Slovakia5
Luxembourg5
Slovenia5
Estonia5
Hungary5
Lithuania5
Italy5
Croatia5
Latvia5
Finland5
Bulgaria5
Poland5
Iceland5
Romania5
Liechtenstein5
Sweden5
Denmark5
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
Registered office
- Street
- 3rd Floor Fleming Court, Flemings Place
- City
- Dublin 4, D04 N4X9
Ratings & reader notes
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