Article 3

Path:
Wire Transfer Regulation (WTR) > CHAPTER I > Article 3
Title:
Article 3
Description:
Definitions
Main content:

For the purposes of this Regulation, the following definitions apply:

(1) ‘terrorist financing’ means terrorist financing as defined in Article 1(5) of Directive (EU) 2015/849;

(2) ‘money laundering’ means the money laundering activities referred to in Article 1(3) and (4) of Directive (EU) 2015/849;

(3) ‘payer’ means a person that holds a payment account and allows a transfer of funds from that payment account, or, where there is no payment account, that gives a transfer of funds order;

(4) ‘payee’ means a person that is the intended recipient of the transfer of funds;

(5) ‘payment service provider’ means the categories of payment service provider referred to in Article 1(1) of Directive 2007/64/EC, natural or legal persons benefiting from a waiver pursuant to Article 26 thereof and legal persons benefiting from a waiver pursuant to Article 9 of Directive 2009/110/EC of the European Parliament and of the Council1, providing transfer of funds services;

(6) ‘intermediary payment service provider’ means a payment service provider that is not the payment service provider of the payer or of the payee and that receives and transmits a transfer of funds on behalf of the payment service provider of the payer or of the payee or of another intermediary payment service provider;

(7) ‘payment account’ means a payment account as defined in point (14) of Article 4 of Directive 2007/64/EC;

(8) ‘funds’ means funds as defined in point (15) of Article 4 of Directive 2007/64/EC;

(9) ‘transfer of funds’ means any transaction at least partially carried out by electronic means on behalf of a payer through a payment service provider, with a view to making funds available to a payee through a payment service provider, irrespective of whether the payer and the payee are the same person and irrespective of whether the payment service provider of the payer and that of the payee are one and the same, including:

(a) a credit transfer as defined in point (1) of Article 2 of Regulation (EU) No 260/2012;

(b) a direct debit as defined in point (2) of Article 2 of Regulation (EU) No 260/2012;

(c) a money remittance as defined in point (13) of Article 4 of Directive 2007/64/EC, whether national or cross border;

(d) a transfer carried out using a payment card, an electronic money instrument, or a mobile phone, or any other digital or IT prepaid or postpaid device with similar characteristics;

(10) ‘batch file transfer’ means a bundle of several individual transfers of funds put together for transmission;

(11) ‘unique transaction 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 systems or messaging systems used for the transfer of funds, which permits the traceability of the transaction back to the payer and the payee;

(12) ‘person-to-person transfer of funds’ means a transaction between natural persons acting, as consumers, for purposes other than trade, business or profession.
 

 

 

 

 

 


1 Directive 2009/110/EC of the European Parliament and of the Council of 16 September 2009 on the taking up, pursuit and prudential supervision of the business of electronic money institutions amending Directives 2005/60/EC and 2006/48/EC and repealing Directive 2000/46/EC (OJ L 267, 10.10.2009, p. 7)