A treasury professional separates abstract tokens into two secure compartments.

Trust

The flow of funds and their safeguarding

Funds received in exchange for the electronic money issued are not the institution’s own funds. This page describes the flow they follow and the safeguarding mechanism adopted, as established in the entity’s documentation.

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Elements to document before publication

Actual flow of the funds received: account-holding institutions and parties involved.
Safeguarding method actually adopted and its scope.
Redemption conditions: who may request it, time limit, supporting documents, any fees.
Treatment of balances at the end of a programme and in the event of closure.
Documented consequences of an incident or of the failure of a party involved.

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The principle is as follows: electronic money is issued against the receipt of funds, and those funds are held in such a way that they are not mixed with the institution’s operating assets. The regulations provide for distinct safeguarding methods; the one that applies to an institution is set out in its documentation and in the decisions of its authority.

MAP will publish on this page the mechanism actually adopted, the parties involved and the conditions under which a holder obtains redemption of their electronic money. No generic description will replace these elements: describing a mechanism that is not the one used by the arrangement would be misleading.

Safeguarding of funds and deposit guarantee are two different things

A mechanism for safeguarding electronic money funds is not a deposit guarantee scheme. It does not fall under the same regime, does not cover the same situations and does not confer the same rights. This page therefore never presents the safeguarding of funds as a bank guarantee.

The questions this page will answer

Where are the funds received held?

The nature of the accounts, the institutions concerned and the applicable regime will be stated from the entity’s documentation.

Who may request redemption, and within what time limit?

The redemption conditions will be published as they appear in the contract: who may request it, time limit, supporting documents, any fees.

What happens if a party involved fails?

The documented consequences of an incident or a failure will be described without extrapolation, from the arrangements actually in place.

Can an unused balance be lost?

The end of a programme’s period of use and the right to redemption of the electronic money are two distinct questions. No automatic forfeiture is presumed; the applicable treatment is that of the contract.