Multipass is a financial services provider offering global business accounts, multi-currency payments, and cross-border transaction solutions.
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Money Transfer
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Spain · Payment institution (entidad de pago)
Money transfer software for payment institutions in Spain
Every day, transfers leave Spain for Latin America, the Maghreb and the rest of Europe. Run corridors, exchange rates and payouts on a platform that knows at any moment which customer funds are still with you and which have reached the recipient.
- Remittances and third-party payouts
- SEPA, SEPA Instant and SWIFT
- Fees and rates per corridor
- Funds in transit per order
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What a Spanish payment institution can run
Remittances for consumers
The customer picks a country and recipient, sees the fee, the rate and what the family will receive, and confirms. Regular transfers run from saved templates.
Batch payouts for businesses
Seasonal worker wages, marketplace seller settlements or supplier payments, by file or API, with approval first and booking line by line.
Payment accounts for regular senders
Accounts with IBANs for customers who send every month. The balance exists only to execute payment transactions and is not e-money.
FX inside the order
Margins and fees per corridor and customer type in price lists your team changes without code.
Review of out-of-threshold orders
Limits per corridor, country and customer. Anything above them is held in the back office until your team reviews it.
What this licence does not cover
- Issuing e-money or prepaid balances, which needs authorisation as an e-money institution.
- Taking deposits or paying interest on balances.
- Lending customer funds. A payment institution may only lend within the limited scope tied to its payment services.
- Using the EU passport under the Article 14 exemption of Royal Decree-law 19/2018. Corridors that start in other EEA countries need full authorisation.
What the regulator asks about your IT
Each requirement, what the platform gives you for it and who owns it after launch.
Funds in transit per order and per customer, timestamped on receipt, to show that what is still with you at the end of the next business day sits in the separate account.
Your finance team, on platform dataName, ID document, account and address from onboarding attached to each transfer, with checks on incoming data.
SharedLimits per destination country and customer type, onboarding questionnaires and exports for your monitoring and sanctions screening tool.
Your internal control bodyBack office users per agent, with restricted permissions and an audit trail of every order they enter.
YouService description, subcontractors, audit and access rights and an exit plan for your outsourcing policy and register of information.
You, with our inputRecovery, backups and an incident process to find a stuck remittance and complete or return it.
SharedSEPA Instant flows and the name and IBAN data the check uses.
You, with your payments provider
Payment rails and providers
Rails your customers can use
SEPA Credit TransferSEPA InstantSWIFTBatch payoutsInternal transfers
24/7
real-time processing, no batch window
60+
payment and provider integrations connected
150+
companies run on Crassula
15+
languages the platform speaks
Dates to plan around
Rules that change what you have to build, in the order they apply.
30 Dec 2024
The recast Transfer of Funds Regulation applies: every remittance carries full payer and payee data.
9 Oct 2025
Euro area payment institutions offer the payer, on every credit transfer, a check of the payee's name against the IBAN.
9 Apr 2027
If you offer euro credit transfers, your PI must send and receive them as instant payments.
10 Jul 2027
The AMLR applies, with new due diligence rules that also cover occasional transactions.
Pending
PSD3 and the Payment Services Regulation, already agreed, await publication in the Official Journal. They apply about 21 months after entry into force, and existing PIs will need to show the Banco de España they comply.
Applying to the Banco de España as a payment institution? Name us in your file.
The Banco de España has three months to decide, and without a notified decision the application counts as refused. For a remittance firm the central question is how each transfer is controlled and protected, which a running platform and a clear technical file answer best.
01
A platform you can demonstrate
A configured environment to show the regulator, not slides.
02
The technical part of your application, prepared
Security, payment flows, outsourcing, ICT risk under DORA and continuity sections of your Banco de España file.
03
Providers lined up
Banking, safeguarding and KYC providers from our network, matched to your licence.
Crassula provides technology and documentation support. We do not provide legal or regulatory advice and cannot guarantee the outcome of an application.
How a launch usually runs
A team in Madrid wants to offer transfers to Colombia, Ecuador and Morocco from an app and a network of call shops. It applies to the Banco de España for payment institution authorisation covering money remittance, and in our environment shows how an order is entered, checked against corridor limits, converted and paid out.
After authorisation and entry in the special register, euro transfers go out over SEPA Instant and other currencies over SWIFT through a connected provider. The call shops are entered as agents in the Banco de España register before they start, and each has its own back office user.
Further reading: our Spain EMI and PI guide and the PSD3 and PSR guide.
Read the licence guides
FAQ
EUR 20,000 for money remittance alone. If you also hold payment accounts and execute transfers from them, the minimum rises to EUR 125,000. Our Spain guide lists the tiers.
Royal Decree-law 19/2018 gives the Banco de España three months to decide, after a report from SEPBLAC. Without an express decision in time the application counts as refused, so it has to arrive complete.
Funds are never mixed with the firm's own money, and if they are still with you at the end of the next business day they go into a separate account at a credit institution or into safe, liquid assets. In an insolvency, customers have a right to separate those accounts from the estate.
Yes. Agents must appear in the Banco de España special register before they operate, and your firm is responsible for them. The platform gives them users with restricted permissions.
Article 14 of Royal Decree-law 19/2018 provides an exemption with registration for low volumes, without an EU passport. It suits a small domestic service. Remittances from other EEA countries need full authorisation.
No. It feeds transfer and customer data to your monitoring tool. The special review and the report to SEPBLAC are your firm's responsibility.
