Open on EUR-Lex ↗
◷
New version applies from 30/04/2011 — introduced by Directive 2009/110/EC. 32 provisions change. Article 3 is deleted from 30/04/2011.

Article 3 - Redeemability

Article 3
Redeemability

1.A bearer of electronic money may, during the period of validity, ask the issuer to redeem it at par value in coins and bank notes or by a transfer to an account free of charges other than those strictly necessary to carry out that operation.

2.The contract between the issuer and the bearer shall clearly state the conditions of redemption.

3.The contract may stipulate a minimum threshold for redemption. The threshold may not exceed EUR 10.

Official text · the act as published Open full page ↗
5 queries · page built in 6 msInventory f82bbfa3