Reset to Today

To access the FCA Handbook Archive choose a date between 1 January 2001 and 31 December 2004.

Content Options:

Add to favourites

View Options:

More Resources:

External link Handbook Publications

Alternative versions

  3. Point in time
    2016-04-04

fee-paying electronic money issuer

  1. 73
    1. any of the following when they issue electronic money:
      1. (a) an authorised electronic money institution;
      2. (b) a small electronic money institution;
      3. (c) an EEA authorised electronic money institution;
      4. (d) a full credit institution, including a branch of the full credit institution within the meaning of article 4(17) of the EU CRR which is situated within the EEA and which has its head office in a territory outside the EEA in accordance with article 47 of the EU CRR;
      5. (e) the Post Office Limited;
      6. (f) the Bank of England, when not acting in its capacity as a monetary authority or carrying out functions of a public nature;
      7. (g) government departments and local authorities, when carrying out functions of a public nature;
      8. (h) a credit union;
      9. (i) a municipal bank; and
      10. (j) the National Savings Bank.
    2. A full credit institution that is an EEA firm is only a fee-paying electronic money issuer if it is exercising an EEA right in accordance with Part II of Schedule 3 to the Act (Exercise of passport rights by EEA firms) to issue electronic money in the United Kingdom. An EEA authorised electronic money institution is only a fee-paying electronic money issuer if it is exercising a right under Article 3 of the Electronic Money Directive to issue electronic money in the United Kingdom.