Honestly, why is trusting 80 k for an European EMI a bad idea?
European EMIs are supervised and have to safeguard the money. They are not allowed to touch it or use it for their daily expenses.
So, what are possible scenarios?
- Nothing happens -> You can access your funds normally
- The EMI goes bankrupt -> The money is still there and you will get a payout sooner or later
- The licence gets revoked or restricted -> The money is still there and you will get the payout after a few years (2 years in case of epayments)
- They block your account because of DD -> You will get the money paid out after some time. Same risk applies to a bank account.
Now come the real risks:
- The EMI is a theft and steals your money (I think it happened to an European DinersClub subsidiary once) -> Money is lost
- The bank where the money is safeguarded gets bankrupt -> Most money is lost, I think
If you go for Lithuanian EMIs the safeguarding bank is usually the central bank of Lithuania. The risk of a failing central bank is Europe is very very low.
If you put your money to an offshore bank account which is not covered by any deposit protection scheme the risk is much higher than keeping it with an European EMI.
Compare Loyal Bank from SVG with ePayments from UK. The money was safer at ePayments at all times.
Of couse, EMIs are well knows for freezing funds, but the money is not lost (except case no. 5 from the list above).
So, if I don't need the funds in the next 2 or 3 years, I do trust EMIs with higher amounts of money.