Skip to content

funds

Defined termfunds
SourcePSD2
ReferenceArticle 4, point (25)
StatusPublished
Refresh ruleRegenerate after source legal-text changes

(25) ‘funds’ means banknotes and coins, scriptural money or electronic money as defined in point (2) of Article 2 of Directive 2009/110/EC;

PSD2, Article 4, point (25).

EMD2, Article 2, point (2):

(2) ‘electronic money’ means electronically, including magnetically, stored monetary value as represented by a claim on the issuer which is issued on receipt of funds for the purpose of making payment transactions as defined in point 5 of Article 4 of Directive 2007/64/EC, and which is accepted by a natural or legal person other than the electronic money issuer;

Open electronic money definition page