Acts on behalf of the institution
The agent does not provide payment services in its own right: it does so in the name of the payment institution that appointed it, within the scope the institution sets.
Payment institution agent in Spain
A payment institution agent provides payment services in the name and on behalf of the institution, and must be entered in the Bank of Spain's Special Register before operating (Royal Decree-law 19/2018 and Royal Decree 736/2019). We support you whether you are the institution appointing agents or you are going to operate as an agent.
Planning to operate as an agent?
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Concept
What is a payment institution agent?
A payment institution agent is a natural or legal person who provides payment services in the name of a payment institution, acting on its behalf and under its responsibility. It has no authorization of its own: it operates under the license of the institution that appoints it.
The role is governed by Article 23 of Royal Decree-law 19/2018 (on payment services, which transposes PSD2) and developed in Chapter III of Royal Decree 736/2019. The Bank of Spain is the supervisor and keeps the register in which agents must be entered.
RDL 19/2018 · Art. 23
RD 736/2019 · Ch. III
PSD2
How it works
The key points of the agent role
Operating as a payment institution agent comes with its own rules. These are the three worth being clear on from the start.
Must be registered
Before operating, the agent must appear in the Bank of Spain's Special Register; the institution first sends the Bank of Spain the required information on each agent.
The institution is liable
For acts carried out by the agent, the payment institution is responsible for compliance with legal obligations, including anti-money laundering.
Appointment and registration
How an agent is registered
Registering an agent is the responsibility of the payment institution, which must notify the Bank of Spain before the agent starts operating.
01
Selection and due diligence
The institution assesses the candidate agent: suitability, good repute and adequate internal controls.
02
Information to the Bank of Spain
The institution sends the Bank of Spain the required information on the agent and the services it will provide.
03
Entry in the register
The agent is entered in the Bank of Spain's Special Register, a prerequisite for operating.
04
Start of activity and oversight
Once registered, the agent operates under the control and training framework set by the institution.
Important: the agent does not need its own authorization as a payment institution: it operates under the license of the institution that appoints it. What is essential is prior entry in the Bank of Spain's Special Register. Specific rules apply to agents that will operate in other EU Member States.
Not to be confused
Payment institution agent vs. commercial agent
These are two very different roles that are often confused. Telling them apart properly avoids providing payment services without legal cover.
Regulated
Payment institution agent
Provides payment services in the name of the institution.
Must be entered in the Special Register of the Bank of Spain.
Operates under the institution's license and responsibility.
Subject to the PSD2 / RDL 19/2018 framework.
Excluded
Commercial agent
Concludes sale or purchase transactions on behalf of the payer or the payee.
May be excluded from the scope of RDL 19/2018 (Art. 4).
Does not provide a payment service as such.
The exclusion requires a case-by-case analysis.
Watch the boundary: mischaracterizing the activity (thinking you are acting as an excluded “commercial agent” when you are in fact providing a payment service) can mean operating without the necessary legal cover. It is best to confirm how your activity fits before you start.
Specialist support
How we help
We support both payment institutions that want to roll out an agent network and those who are going to operate as agents.
Legal fit and characterization
We analyze whether your activity is a payment service, whether you fit as an agent, or whether an exclusion under Royal Decree-law 19/2018 applies.
Onboarding and registration
We prepare the documentation and the notification to the Bank of Spain for the agent's entry in the Special Register.
Contract and controls
We design the agency agreement and the control framework (including anti-money laundering) between the institution and its agents.
Planning to operate as a payment institution agent?
We confirm the legal fit, prepare the registration with the Bank of Spain, and put the contract and controls in place.
Frequently asked questions
Payment institution agent: common questions
What is a payment institution agent?
It is a natural or legal person who provides payment services in the name of a payment institution, on its behalf and under its responsibility. The role is governed by Article 23 of Royal Decree-law 19/2018 and by Royal Decree 736/2019.
Do I need my own license?
No. The agent does not need its own authorization as a payment institution: it operates under the license of the institution that appoints it. What it does need is to be entered in the Bank of Spain's Special Register.
Who handles the registration?
The payment institution. It is the institution that sends the Bank of Spain the required information on the agent and the services it will provide, before the activity begins.
Who is liable if the agent makes a mistake?
The payment institution is liable for compliance with legal obligations in respect of acts carried out by its agents. That is why the institution must properly monitor and train its agent network.
Is it the same as a commercial agent?
No. A commercial agent concludes sale or purchase transactions on behalf of the payer or the payee and may be excluded from Royal Decree-law 19/2018 (Article 4). A payment institution agent does provide a payment service and is fully regulated.
Can an agent operate in other EU countries?
Yes, but under specific rules. Agents operating in other Member States are subject to particular notification and registration requirements, which should be analyzed before rolling out cross-border activity.
Does the agent have anti-money laundering obligations?
Payment activity is subject to anti-money laundering rules. The institution must extend its controls to its agent network, since it is responsible for the network's compliance. You can find more on our anti-money laundering page.
Who supervises all this?
The Bank of Spain, which has been responsible for the authorization, registration and supervision of payment institutions and their agents since Royal Decree-law 19/2018 came into force.
Contact
Book a call
Tell us about your project and we'll advise you on the agent role, registration with the Bank of Spain and the controls you need.
The payment institution agent in payment services regulation
The payment institution agent role allows a payment institution to expand its distribution network without each service point needing its own authorization. The agent provides payment services in the name of the institution, on its behalf and under its responsibility.
Legal framework
The regime is set out in Royal Decree-law 19/2018 of November 23 on payment services (which transposes Directive (EU) 2015/2366, PSD2), in particular its Article 23 on the use of agents, and is developed in Chapter III of Royal Decree 736/2019, which governs the concept of agent, the notification and registration regime, and the institution's liability.
Registration with the Bank of Spain
Before operating, the agent must be entered in the Bank of Spain's Special Register. The payment institution sends the supervisor the required information on each agent. Particular notification rules apply to agents that will operate in other Member States of the European Union.
Liability and control
For acts carried out by its agents, the payment institution is responsible for compliance with legal obligations. This includes anti-money laundering controls, which the institution must extend to its entire agent network through contracts, procedures and training.
Not to be confused with a commercial agent
A payment institution agent should be distinguished from a commercial agent who concludes sale or purchase transactions on behalf of the payer or the payee, and who may be excluded from the scope of Royal Decree-law 19/2018 (Article 4). Mischaracterizing the activity can lead to providing payment services without legal cover, so it is best to confirm how your activity fits before you start.
Fintech Regulation
Official sources
Key legislation, linked to the official text:
- Royal Decree-law 19/2018 of November 23 on payment services and other urgent financial measuresBOE · consolidated text
- Royal Decree 736/2019 of December 20 on the legal regime for payment services and payment institutionsBOE · consolidated text
- Directive (EU) 2015/2366 of November 25, 2015 on payment services in the internal market (PSD2)EUR-Lex · Official Journal of the EU
Legislation and links reviewed in .