This Regulation lays down rules on information on the payer to accompany transfers of funds for the purposes of the prevention, investigation and detection of money laundering and terrorist financing.
For the purposes of this Regulation, the following definitions shall apply:
‘terrorist financing’ means the provision or collection of funds within the meaning of Article 1(4) of Directive 2005/60/EC;
‘money laundering’ means any conduct which, when committed intentionally, is regarded as money laundering for the purposes of Article 1(2) or (3) of Directive 2005/60/EC;
‘payer’ means either a natural or legal person who holds an account and allows a transfer of funds from that account, or, where there is no account, a natural or legal person who places an order for a transfer of funds;
‘payee’ means a natural or legal person who is the intended final recipient of transferred funds;
‘payment service provider’ means a natural or legal person whose business includes the provision of transfer of funds services;
‘intermediary payment service provider’ means a payment service provider, neither of the payer nor of the payee, that participates in the execution of transfers of funds;
‘transfer of funds’ means any transaction carried out on behalf of a payer through a payment service provider by electronic means, with a view to making funds available to a payee at a payment service provider, irrespective of whether the payer and the payee are the same person;
‘batch file transfer’ means several individual transfers of funds which are bundled together for transmission;
‘unique identifier’ means a combination of letters, numbers or symbols, determined by the payment service provider, in accordance with the protocols of the payment and settlement system or messaging system used to effect the transfer of funds.
1.This Regulation shall apply to transfers of funds, in any currency, which are sent or received by a payment service provider established in the Community.
2.This Regulation shall not apply to transfers of funds carried out using a credit or debit card, provided that:
(a)the payee has an agreement with the payment service provider permitting payment for the provision of goods and services;
and
(b)a unique identifier, allowing the transaction to be traced back to the payer, accompanies such transfer of funds.
3.Where a Member State chooses to apply the derogation set out in Article 11(5)(d) of Directive 2005/60/EC, this Regulation shall not apply to transfers of funds using electronic money covered by that derogation, except where the amount transferred exceeds EUR 1 000.
4.Without prejudice to paragraph 3, this Regulation shall not apply to transfers of funds carried out by means of a mobile telephone or any other digital or Information Technology (IT) device, when such transfers are pre-paid and do not exceed EUR 150.
5.This Regulation shall not apply to transfers of funds carried out by means of a mobile telephone or any other digital or IT device, when such transfers are post-paid and meet all of the following conditions:
(a)the payee has an agreement with the payment service provider permitting payment for the provision of goods and services;
(b)a unique identifier, allowing the transaction to be traced back to the payer, accompanies the transfer of funds;
and
(c)the payment service provider is subject to the obligations set out in Directive 2005/60/EC.
6.Member States may decide not to apply this Regulation to transfers of funds within that Member State to a payee account permitting payment for the provision of goods or services if:
(a)the payment service provider of the payee is subject to the obligations set out in Directive 2005/60/EC;
(b)the payment service provider of the payee is able by means of a unique reference number to trace back, through the payee, the transfer of funds from the natural or legal person who has an agreement with the payee for the provision of goods and services;
and
(c)the amount transacted is EUR 1 000 or less.
Member States making use of this derogation shall inform the Commission thereof.
7.This Regulation shall not apply to transfers of funds:
(a)where the payer withdraws cash from his or her own account;
(b)where there is a debit transfer authorisation between two parties permitting payments between them through accounts, provided that a unique identifier accompanies the transfer of funds, enabling the natural or legal person to be traced back;
(c)where truncated cheques are used;
(d)to public authorities for taxes, fines or other levies within a Member State;
(e)where both the payer and the payee are payment service providers acting on their own behalf.