- Question ID
-
2022_6611
- Legal act
- Directive 2015/2366/EU (PSD2)
- Topic
- Other topics
- Article
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Article 18
- COM Delegated or Implementing Acts/RTS/ITS/GLs/Recommendations
- Not applicable
- Article/Paragraph
-
The question does not relate to delegated acts
- Type of submitter
-
Individual
- Subject matter
-
Payment account
- Question
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What is the difference between payment account, e-money account and a bank account (account held at the credit institution) in terms of allowed transactions? Is it possible to hold funds on a payment account to make future payment transactions?
Is it possible to receive the salary on a payment account, if this account is not an e-money account or an account held by credit intuition, which constitute a deposit or other repayable fund?
- Background on the question
-
According to the PSD2, payment account is an account held in the name of one or more payment service users which is used for the execution of payment transactions.
According to Article 18 of the PSD2, where payment institutions engage in the provision of one or more payment services, they may hold only payment accounts which are used exclusively for payment transactions. Any funds received by payment institutions from payment service users with a view to the provision of payment services shall not constitute a deposit or other repayable funds within the meaning of Article 9 of Directive 2013/36/EU, or electronic money as defined in point (2) of Article 2 of Directive 2009/110/EC.
- Submission date
- Status
-
Question under review
- Answer prepared by
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Answer prepared by the European Commission because it is a matter of interpretation of Union law.