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Q&A tool · not legislation · published 18 Mar 2022 [Final Q&A]","attribution":{"prepared_by":"European Commission","published_by":"EBA","published_in":"EBA Single Rulebook Q&A tool","document_type":"qa_answer","legal_nature":"not_legislation","addressees":"not stated in the document","dates":{"published_on":"2022-03-18","question_submitted_on":"2020-09-11","locators":{"published_on":"EBA Q&A register entry 2020_5494, field 'Final publishing date'","question_submitted_on":"EBA Q&A register entry 2020_5494, field 'Submission date'"}},"adoption":null}},"provenance":{"official_url":"https://www.eba.europa.eu/single-rule-book-qa/qna/view/publicId/2020_5494","check":{"result":"matched","checked_at":"2026-10-26","against":"the EBA publication"},"repo_path":"spaces/emd/level-3/q-and-a/eba/eba-qa-2020-5494-fees-on-issuing-eletronic-money.md","body_sha256":"b2b490f495091b83b52298ac3d25c17fcb8c7a62ae1d3a7291d1661a38447f57"},"units":[],"markdown":"---\ntitle: \"EBA Q&A 2020_5494 — Q&A — Fees on issuing eletronic money [Final Q&A]\"\nshortTitle: \"EBA Q&A 2020_5494 — Q&A — Fees on issuing eletronic money [Final Q&A]\"\nanswer_id: EBA_QA_2020_5494\nstatus: \"Final Q&A\"\ntype: qa\ninstrument_type: qa\nauthority: EBA\nbinding: false\nbinding_character: non_binding\nlegal_status: in_force\nregulation: \"EMD\"\nemd_level3: true\nmica_level2: false\nlegal_basis: \"Article 11(1) EMD\"\ndate: 18 March 2022\nsource_link: https://www.eba.europa.eu/single-rule-book-qa/qna/view/publicId/2020_5494\nlifecycle: \"Final Q&A\"\ntext_version: \"EBA Q&A register, 18 March 2022\"\nsource_url: \"https://www.eba.europa.eu/single-rule-book-qa/qna/view/publicId/2020_5494\"\ncheck_status: matched\nverified: true\nlast_checked: 2026-10-26\nchecked_against: \"the EBA publication\"\nsource:\n  prepared_by: \"European Commission\"\n  published_by: \"EBA\"\n  published_in: \"EBA Single Rulebook Q&A tool\"\n  evidence:\n    prepared_by: \"Answer prepared by the European Commission because it is a matter of interpretation of Union law.\"\n    locator: \"EBA Q&A register entry 2020_5494, field 'Answer prepared by'\"\ndocument_type: \"qa_answer\"\nlegal_nature: \"not_legislation\"\naddressees: \"not stated in the document\"\ndates:\n  published_on: \"2022-03-18\"\n  question_submitted_on: \"2020-09-11\"\n  locators:\n    published_on: \"EBA Q&A register entry 2020_5494, field 'Final publishing date'\"\n    question_submitted_on: \"EBA Q&A register entry 2020_5494, field 'Submission date'\"\nlifecycle_label: \"Final Q&A\"\n---\n\n**Answer prepared by the European Commission, published in the EBA Q&A tool · not legislation · published 18 Mar 2022 [Final Q&A]**\n\n*Final Q&A · EBA Q&A register, 18 March 2022 · Checked against the EBA publication on 26 Oct 2026 · [Official source](https://www.eba.europa.eu/single-rule-book-qa/qna/view/publicId/2020_5494)*\n\n| | |\n|---|---|\n| **Full title** | EBA Q&A 2020_5494 — Q&A — Fees on issuing eletronic money \\[Final Q&A\\] |\n| **Prepared by** | European Commission |\n| **Published by** | EBA, in the EBA Single Rulebook Q&A tool |\n| **Reference** | EBA_QA_2020_5494 |\n| **Document type** | Q&A |\n| **Legal nature** | Not legislation |\n| **Addressees** | Not stated in the document |\n| **Dates** | Published 18 March 2022; question submitted 11 September 2020 |\n| **Legal basis** | Article 11(1) EMD |\n| **Related instruments** | None recorded |\n| **Text on this page** | Word for word — the full text of the EBA publication |\n\n**Fees on issuing eletronic money**\n\n### Question\n\nIs charging fees on issuing of the e-money, in compliance with Article 11(1) of the Directive 2009/110/EC (E-money directive – EMD)?\n\n### Background\n\nCommon practice of e-money institutions is placing fees on issuing of the electronic money. Those fees are called operational fees, charges etc.\n\n***\n\n### Answer\n\nAccording to Article 11(1) Directive 2009/110/EC (EMD2), Member States shall ensure, that electronic money issuers issue electronic money “at par value” on the receipt of funds.\n\nArticle 11(1) EMD2 does not impose a ban on any kind of charges related to the issuance of electronic money. Further, Article 11(3) EMD2 addresses only the levying of charges related to the redemption of electronic money.\n\nHowever, the “at par value”-requirement in Article 11(1) EMD2, should be respected and not be circumvented by levying charges.\n\nCompliance with the “at par value” requirement will depend on the design of the individual contracts used in the respective business model.\n\nDisclaimer:\n\nThe answers clarify provisions already contained in the applicable legislation. They do not extend in any way the rights and obligations deriving from such legislation nor do they introduce any additional requirements for the concerned operators and competent authorities. The answers are merely intended to assist natural or legal persons, including competent authorities and Union institutions and bodies in clarifying the application or implementation of the relevant legal provisions. Only the Court of Justice of the European Union is competent to authoritatively interpret Union law. The views expressed in the internal Commission Decision cannot prejudge the position that the European Commission might take before the Union and national courts.\n\n***\n\n**Source:** [EBA original document](https://www.eba.europa.eu/single-rule-book-qa/qna/view/publicId/2020_5494)\n\n## Related Level 1 articles\n\n- [Article 11 — Issuance and redeemability](../../../articles/11.md)\n"}