PI licence in the Netherlands — DNB
A Payment Institution authorisation at DNB covers PSD2 payment services without e-money issuance. The legal framework is the Wet op het financieel toezicht (Wft), supplemented by DNB’s authorisation policy notices. English-language files accepted; substance must be Dutch; the typical end-to-end timeline is six-to-nine months. This piece walks through what DNB expects for the PI track and how it differs from the EMI track.
1. Who grants and who supervises
DNB is the competent authority. AML supervision shared with FIU-Nederland for intelligence. Where the PI offers AISP or PISP services touching investment products, AFM interfaces.
2. Legal basis
- Directive (EU) 2015/2366 (PSD2)
- Wet op het financieel toezicht (Wft) — Chapter 2 on Betaalinstellingen
- Besluit prudentiële regels Wft (Bpr)
- DNB’s authorisation policy notices
- EBA Guidelines on authorisation under PSD2 — directly applicable
3. The eight PSD2 services in Dutch law
- Storten van contant geld op een betaalrekening en daarmee verband houdende verrichtingen
- Opnemen van contant geld van een betaalrekening en daarmee verband houdende verrichtingen
- Uitvoeren van betalingstransacties (overboekingen, automatische incasso’s, kaartbetalingen)
- Uitvoeren van betalingstransacties met een kredietlijn
- Uitgeven van betalingsinstrumenten of acquireren van betalingstransacties
- Geldtransfers
- Betalingsinitiatiediensten (PIS)
- Rekeninginformatiediensten (AIS)
4. Capital floors
- €20,000 — Service 6 only (geldtransfers)
- €50,000 — Service 7 (PIS)
- €125,000 — Services 1–5
- None — Service 8 only (AIS, registration regime)
5. AIS — registration regime
6. What goes in the application file
Mirrors the EMI file structure — see the EMI piece. PI-specific differences:
- Programme of operations anchored to Services 1–8 selection
- Safeguarding under PSD2 Article 10 (segregation or insurance)
- PIS-specific documentation where Service 7 is offered — SCA exemption, dedicated-interface compliance, PII
- AIS-specific documentation where Service 8 is offered — access-to-account mechanism, consent management
7. The Reference Portal — mandatory if you issue Dutch IBANs
If the PI offers Service 1 (account servicing) and issues Dutch IBANs, the Banking Information Reference Portal connection becomes mandatory. The connection runs through Betaalvereniging Nederland on a separate track, with a meaningful timeline of its own — plan it in parallel with the licensing file, not after grant.
8. Realistic timing
Statutory thirteen-week review from a complete file. End-to-end with pre-application and feedback rounds: six-to-nine months.
9. What switches on at grant
- DNB DLR — supervisory reporting channel
- DNB statistical reporting (BSI, MIR where applicable)
- FIU-NL UTR reporting through goAML
- Reference Portal connection (if IBANs issued)
- CESOP reporting where applicable
- IPR statistical report
- Conduct reporting through Kifid / AFM framework
10. FAQ
Should I apply for a PI or an EMI?
If issuing electronic money (stored-value accounts in customer name) — EMI. If purely payment services — PI. Choice is not reversible without re-licensing.
Can I file in English?
Yes — DNB accepts English-language files. Substantive Dutch presence still required.
Does the AIS lite regime mean lighter ICT?
No. AIS providers have full ICT obligations under DORA (where in scope) and PSD2 Article 95-99 security requirements. Capital is lighter; ICT is not.
What about PSD3 / PSR?
The proposed merger of EMI / PI categories will reshape this regime. Existing PSD2 authorisations are expected to be grandfathered with transitional provisions. Track the PSD3 file.
How does DNB view fintech-bank stacks?
Recognised, with explicit expectations on accountability allocation between the partner bank and the fintech. DNB has issued sector guidance.
Can I sponsor smaller PIs as a banking partner?
Yes — the Dutch market has developed banking-as-a-service relationships. The contractual allocation of AML obligations is a recurring DNB inspection focus.
11. What to do, today
- Choose your PSD2 services carefully — drives capital, safeguarding, AML scope.
- Engage DNB’s Fintech Office early.
- If you issue Dutch IBANs, plan the Reference Portal connection in parallel.
- If AIS-only, plan against the lighter registration regime.
- Map the post-grant reporting catalogue before submission.
Related: EMI licence in the Netherlands · PI licence in Spain · CESOP reporting in the Netherlands · PSD3 tracker
