Electronic Money Regulations

Here we give an overview of the Electronic Money Regulations, which implement the Second Electronic Money Directive

Read our electronic money Approach Document for more information.

Electronic money

Electronic money (e-money) is electronically (including magnetically) stored monetary value, represented by a claim on the issuer, which is issued on receipt of funds for the purpose of making payment transactions. It is accepted by a person other than the electronic money issuer. Types of e-money include:

  • pre-paid cards
  • electronic pre-paid accounts for use online

Who the EMRs affect

The Electronic Money Regulations (EMRs) affect:

  • electronic money issuers
  • their customers

Most electronic money issuers are required to be either authorised or registered by us, and to comply with certain rules about issuing and redeeming e-money. The rules are set out in:

To start issuing e-money, you must: