{"release":{"id":"2d86bd12ba77a288053b34ea2517324b92d03c8039b7f5d156fa4002421384a1","published":"2026-11-10T16:06:46Z","pinned":false},"limits":{"coverage":{"history":"full","held_since":"2015-12-23","gaps":[],"covered":["PSD2 L1"],"not_covered":["national guidance","court decisions"]},"freshness":{"release_id":"2d86bd12ba77a288053b34ea2517324b92d03c8039b7f5d156fa4002421384a1","release_published":"2026-11-10T16:06:46Z","checked_at":"2026-11-09","checked_against":"EUR-Lex"},"truncation":null,"failures":[],"incomplete":[]},"page":{"path":"/psd2/articles/18","url":"https://www.headlesslaw.com/psd2/articles/18","title":"Article 18 — Activities","family":"l1_generated","work_id":"psd2","status":"in_force","force_status":"in_force","date_state":"current","requested_date":null,"as_of":"2026-11-11","applies_from":null,"application":null,"version_label":"Consolidated version of 23 December 2015","check":{"against":"EUR-Lex","on":"2026-11-09"},"check_result":"matched","official_url":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02015L2366-20250117","valid_from":"2015-12-23","valid_until":null,"revision":1,"content_id":"73f923502ffbfede","change_date":null,"nearest_versions":["2015-12-23"],"first_text_date":"2015-11-25","correction_applies":false,"versions":["2015-12-23"],"version_url":"https://www.headlesslaw.com/psd2/articles/18/versions/2015-12-23","revision_url":"https://www.headlesslaw.com/psd2/articles/18/versions/2015-12-23/rev/73f923502ffbfede","versions_url":"https://www.headlesslaw.com/psd2/articles/18/versions","relations_url":"https://www.headlesslaw.com/psd2/articles/18/relations","source_line":null,"attribution":null},"provenance":{"official_url":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02015L2366-20250117","check":{"result":"matched","checked_at":"2026-11-09","against":"EUR-Lex"},"repo_path":null,"body_sha256":"77c661dc01b034eb56dd1dcae83ff6cd734f5bd3250a83195bf0c203e6f99e15","markdown_sha256":"8cc778e0f930c8df893fde45293f1028b72db689a0f910da2778b36d0b3452e7"},"units":[{"locator":"psd2/art/18","kind":"article","status":"in_force","label":null,"heading":"Activities","text":"","marks":[],"revision":1,"text_hash":"e3b0c44298fc1c149afbf4c8996fb92427ae41e4649b934ca495991b7852b855","reason":null},{"locator":"psd2/art/18/para/1","kind":"paragraph","status":"in_force","label":"1.","heading":null,"text":"Apart from the provision of payment services, payment institutions shall be entitled to engage in the following activities:","marks":[],"revision":1,"text_hash":"750fb6832602b42f1dc081860811fffcae4e51755cf0ed6c53019e901c4aee28","reason":null},{"locator":"psd2/art/18/para/1/pt/a","kind":"point","status":"in_force","label":"(a)","heading":null,"text":"the provision of operational and closely related ancillary services such as ensuring the execution of payment transactions, foreign exchange services, safekeeping activities, and the storage and processing of data;","marks":[],"revision":1,"text_hash":"1c8b1a8bf483fc525ec97aac4bc4789a0332cb0bcfb7bc118299e653cfb57670","reason":null},{"locator":"psd2/art/18/para/1/pt/b","kind":"point","status":"in_force","label":"(b)","heading":null,"text":"the operation of payment systems, without prejudice to Article 35;","marks":[],"revision":1,"text_hash":"3f46291c733ff1569278b0f1f88361f26bb5b89c5a168fc82f2167eb37893229","reason":null},{"locator":"psd2/art/18/para/1/pt/c","kind":"point","status":"in_force","label":"(c)","heading":null,"text":"business activities other than the provision of payment services, having regard to applicable Union and national law.","marks":[],"revision":1,"text_hash":"e429918635407b3721884aa251417e2f9352111dc09756e2ac0f0baa09bb3244","reason":null},{"locator":"psd2/art/18/para/2","kind":"paragraph","status":"in_force","label":"2.","heading":null,"text":"Where payment institutions engage in the provision of one or more payment services, they may hold only payment accounts which are used exclusively for payment transactions.","marks":[],"revision":1,"text_hash":"496d672fcd6702bd8e73300e020e4dc7efcc03cd533afe3929a9b6f4a8fe80e8","reason":null},{"locator":"psd2/art/18/para/3","kind":"paragraph","status":"in_force","label":"3.","heading":null,"text":"Any funds received by payment institutions from payment service users with a view to the provision of payment services shall not constitute a deposit or other repayable funds within the meaning of Article 9 of Directive 2013/36/EU, or electronic money as defined in point (2) of Article 2 of Directive 2009/110/EC.","marks":[],"revision":1,"text_hash":"b147608c90f0f611cee537afe7dbfe736309a1159d282ff537ac3781789f4e03","reason":null},{"locator":"psd2/art/18/para/4","kind":"paragraph","status":"in_force","label":"4.","heading":null,"text":"Payment institutions may grant credit relating to payment services as referred to in point (4) or (5) of Annex I only if all of the following conditions are met:","marks":[],"revision":1,"text_hash":"be89fc298ce27bab9216ce94bf8a59117eb22fb03c2dbe05d81d35691ec969fc","reason":null},{"locator":"psd2/art/18/para/4/pt/a","kind":"point","status":"in_force","label":"(a)","heading":null,"text":"the credit shall be ancillary and granted exclusively in connection with the execution of a payment transaction;","marks":[],"revision":1,"text_hash":"715b0f3d516377cdfb42dc3cc4c2e57b1c4a0d233ac31c265e03233bdc26b4fb","reason":null},{"locator":"psd2/art/18/para/4/pt/b","kind":"point","status":"in_force","label":"(b)","heading":null,"text":"notwithstanding national rules on providing credit by credit cards, the credit granted in connection with a payment and executed in accordance with Article 11(9) and Article 28 shall be repaid within a short period which shall in no case exceed 12 months;","marks":[],"revision":1,"text_hash":"6f5a7eb15b011d018bec7ee0eef4986e13aaeb212314fda861ff7335a97671e6","reason":null},{"locator":"psd2/art/18/para/4/pt/c","kind":"point","status":"in_force","label":"(c)","heading":null,"text":"such credit shall not be granted from the funds received or held for the purpose of executing a payment transaction;","marks":[],"revision":1,"text_hash":"bee3d172d1cfb5ca7b0ed9c24ec17b32a08d028e5fe05e141edfa00f8ec5d73c","reason":null},{"locator":"psd2/art/18/para/4/pt/d","kind":"point","status":"in_force","label":"(d)","heading":null,"text":"the own funds of the payment institution shall at all times and to the satisfaction of the supervisory authorities be appropriate in view of the overall amount of credit granted.","marks":[],"revision":1,"text_hash":"91048cdc7b36e060ad11dd8175c3a563dc22cb0c495292b20eeef45dd6ba38ec","reason":null},{"locator":"psd2/art/18/para/5","kind":"paragraph","status":"in_force","label":"5.","heading":null,"text":"Payment institutions shall not conduct the business of taking deposits or other repayable funds within the meaning of Article 9 of Directive 2013/36/EU.","marks":[],"revision":1,"text_hash":"3a2d7d478e8c98525eec69c43b463a2455e34fc2feafd897857029e003d319a3","reason":null},{"locator":"psd2/art/18/para/6","kind":"paragraph","status":"in_force","label":"6.","heading":null,"text":"This Directive shall be without prejudice to Directive 2008/48/EC, other relevant Union law or national measures regarding conditions for granting credit to consumers not harmonised by this Directive that comply with Union law.","marks":[],"revision":1,"text_hash":"8984a08e2ef3f82e2cd8b132dcdcda4a91bbeed235da134161d55b0bf55df3b4","reason":null}],"markdown":"*In force · Consolidated version of 17 January 2025 · Verified 9 Nov 2026 · [Official source](https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02015L2366-20250117)*\n\n1. <a id=\"p-1\"></a>Apart from the provision of payment services, payment institutions shall be entitled to engage in the following activities:\n\n    <a id=\"p-1-a\"></a>**(a)** the provision of operational and closely related ancillary services such as ensuring the execution of payment transactions, foreign exchange services, safekeeping activities, and the storage and processing of data;\n\n    <a id=\"p-1-b\"></a>**(b)** the operation of payment systems, without prejudice to [Article 35](35.md);\n\n    <a id=\"p-1-c\"></a>**(c)** business activities other than the provision of payment services, having regard to applicable Union and national law.\n2. <a id=\"p-2\"></a>Where payment institutions engage in the provision of one or more payment services, they may hold only payment accounts which are used exclusively for payment transactions.\n3. <a id=\"p-3\"></a>Any funds received by payment institutions from payment service users with a view to the provision of payment services shall not constitute a deposit or other repayable funds within the meaning of Article 9 of Directive 2013/36/EU, or electronic money as defined in point (2) of [Article 2](https://www.headlesslaw.com/emd/articles/2) of Directive 2009/110/EC.\n4. <a id=\"p-4\"></a>Payment institutions may grant credit relating to payment services as referred to in point (4) or (5) of Annex I only if all of the following conditions are met:\n\n    <a id=\"p-4-a\"></a>**(a)** the credit shall be ancillary and granted exclusively in connection with the execution of a payment transaction;\n\n    <a id=\"p-4-b\"></a>**(b)** notwithstanding national rules on providing credit by credit cards, the credit granted in connection with a payment and executed in accordance with [Article 11(9)](11.md) and [Article 28](28.md) shall be repaid within a short period which shall in no case exceed 12 months;\n\n    <a id=\"p-4-c\"></a>**(c)** such credit shall not be granted from the funds received or held for the purpose of executing a payment transaction;\n\n    <a id=\"p-4-d\"></a>**(d)** the own funds of the payment institution shall at all times and to the satisfaction of the supervisory authorities be appropriate in view of the overall amount of credit granted.\n5. <a id=\"p-5\"></a>Payment institutions shall not conduct the business of taking deposits or other repayable funds within the meaning of Article 9 of Directive 2013/36/EU.\n6. <a id=\"p-6\"></a>This Directive shall be without prejudice to Directive 2008/48/EC, other relevant Union law or national measures regarding conditions for granting credit to consumers not harmonised by this Directive that comply with Union law.\n\n## Related Level 2 and Level 3\n\n### Guidance and Q&A\n\n- [EBA Q&A 2018_4221 — Q&A — Ability of a payment account operated by a payment \\[Final Q&A\\]](../level-3/q-and-a/eba/eba-qa-2018-4221-ability-of-a-payment-account-operated-by-a-payment.md)\n- [EBA Q&A 2022_6611 — Q&A — Payment account \\[Final Q&A\\]](../level-3/q-and-a/eba/eba-qa-2022-6611-payment-account.md)\n\n***\n\n[Title II — Payment service providers](../titles/ii.md) · [← Article 17](17.md) · [Article 19 →](19.md)\n"}