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Text as of 23 Dec 2015 · Directive (EU) 2015/2366, OJ L 337, 23.12.2015 · Same wording as today’s text.Today’s text

Recital 31

Financial servicesLevel 1DirectivePSD2Stage: AdoptedOfficial source

When exclusively providing payment initiation services, the payment initiation service provider does not at any stage of the payment chain hold the user’s funds. When a payment initiation service provider intends to provide payment services in relation to which it holds user funds, it should obtain full authorisation for those services.