What does EMI stand for?

[Brutus]

I see EMI being used accross multiple threads but dont know what it stands for. Anyone care to specify?

 

[Milky Moon]

Electronic Money Institutes.

They can provide a IBAN (bank account), they can provide a payment card, but thet cannot provide loans, nor are your funds insured. The latter two setting them apart from banks.

 

[Internationaloff]

I see EMI being used accross multiple threads but dont know what it stands for. Anyone care to specify?

An EMI account can provide an IBAN (unique or shared) and Debit Card (Mastercard or VISA).

PS: Some of them allow sending and receiving swift transfers.