Money and you
What is an electronic money institution (EMI), and how does it work?
An Electronic Money Institution (EMI) is a type of financial entity authorized to issue, store, and manage electronic money – digital value that is backed by fiat currency and used for electronic transactions. Unlike traditional banks, e-money institutions are not permitted to offer full-scale banking services. However, they can now play a significant role in the modern economy by providing payment services, digital wallets, or facilitating international transactions. In countries that allow electronic money institutions, they are heavily regulated by financial authorities – often central banks – but not always in the same way as traditional banks. EMI must safeguard
Money and you
Best digital banking options for digital nomads in 2025
The need to find the best bank for digital nomads has become more important than ever before. Increased work flexibility and global reach have changed our lives, and traditional banks don’t always offer us what we need to handle multiple currencies and avoid hefty foreign transaction fees. With up to 80 million digital nomads currently working from laptops or smartphones across the planet, the idea of opening and using a bank account has changed for many people. These online workers now need to be able to handle their money in different countries and currencies without high currency exchange fees. Digital
Money and you
The best prepaid cards for international travel in 2025
When searching for the best prepaid card for international travel, prioritize convenience and security. These cards let you withdraw cash and pay in stores using local currency at competitive exchange rates. This can help to remove some of the main areas of concern when traveling abroad, such as high foreign transaction fees and a possible lack of security. By choosing a prepaid debit card, you avoid the problem of carrying cash. You also don’t need to use a credit card or a debit card linked to your bank account. Instead, you simply load the prepaid Mastercard or prepaid Visa card
Money and you
Hidden fees and other risks: the disadvantages of using a credit card abroad
The disadvantages of using a credit card abroad haven’t stopped it from becoming an extremely popular way of paying while traveling. While most people are aware that foreign transaction fees are involved, there are other drawbacks to be aware of. It’s certainly convenient to use a credit card abroad since they’re so widely accepted. Credit and debit cards from the major card networks are now accepted in stores and ATMs worldwide. Whether you’re withdrawing cash abroad or paying in a store, using your credit card is simple. Yet, that doesn’t mean that it always makes good financial sense. You don’t
Money and you
What are blockchain payments, and how can businesses use them?
Blockchain payments are part of a financial revolution that is changing how technology is used in many different parts of our lives. The blockchain is used to process crypto transactions that are recorded on encrypted distributed ledgers. It ensures that the transactions can be sent directly and safely from one person or business to another without using an intermediary such as a bank or financial institution. The Bitcoin blockchain is the most famous example of this, as this was the original cryptocurrency, and it has captured the imagination of millions of people across the planet since its launch in 2009.
Money and you
Transaction pending? What it means when money is taken but not yet processed
What happens when a transaction is pending but money is deducted from your bank account or credit card? This situation can occur with electronic transfers and card payments, but why does it happen? A bank pending transaction isn’t usually a problem and may be a sign of one of the different issues we’ll be looking at here. Common causes of pending transactions It is typically the amount of a purchase you’ve made, often with a debit or credit card. You’ll see that it’s listed as pending, but it’s not on your list of posted transactions that have been completed. That’s
Money and you
Understanding contactless payment limits: how much can you spend with tap-and-go?
The emergence of contactless payments has changed the way we pay, with contactless cards allowing us to make a simple tap or use a mobile phone to pay effortlessly using the “tap-and-go” method. How can you start using this convenient approach that combines a card or mobile device with biometric authentication? We need to look at how contactless payments work and what kind of contactless limit you can expect to have. The emergence of contactless payments has changed the way we pay, with contactless cards allowing us to make a simple tap or use a mobile phone to pay effortlessly
Money and you
How much cash can you legally travel with? Limits explained
How much cash can you travel with? The answer depends on various factors, such as where you’re going. Each government imposes limits on how much national and foreign currency people can carry when crossing its borders. It is why there’s a legal obligation to declare how much cash you hold when traveling from one country to another. Before you leave home, you must know how much cash you can legally take. General cash-carrying limits across various regions If you’re getting ready to take an international flight, you should find out how much cash you can carry before reaching the stage
Money and you
How it works: cash pickup
Cash pickup services offer a simple way to send money abroad or to someone who doesn’t have a bank account. They provide an instant kind of cash transfer, although you need to be aware of the fees charged for this money payment service before you confirm the transfer of funds. We’ll be looking at all the relevant details to let you make an informed decision. It can be a valuable service for moving cash as part of your overall approach to international money transfers. However, you should also be aware of other transfer options, such as local and international transfers