Defined terms — REGULATION (EU) 2024/886 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 13 March 2024 amending Regulations (EU) No 260/2012 and (EU) 2021/1230 and Directives 98/26/EC and (EU) 2015/2366 as regards instant credit transfers in euro (Text with EEA relevance)
European Union · 32024R0886 · 160 provisions
6 defined in this instrument, 4 borrowed from other acts.
instant credit transfer — a credit transfer which is executed immediately, 24 hours a day and on any calendar day ‘(1a)
instant credit transfer — borrowed from another act; this instrument states no meaning of its own (1)
LEI — a unique alphanumeric reference code based on the ISO 17442 standard assigned to a legal entity (1f)
name of the payee — in respect of a natural person, the name and surname and, in respect of a legal person, the commercial or legal name (1d)
participant — borrowed from another act; this instrument states no meaning of its own Article 4
payment account — borrowed from another act; this instrument states no meaning of its own ‘(5)
payment initiation channel — any method, device or procedure through which payers can place payment orders with their PSP for a credit transfer, including online banking, a mobile banking application, an automated teller machine, or in any other way on the premises of the PSP (1b)
payment initiation service provider — borrowed from another act; this instrument states no meaning of its own (1c)
retail payment system — a payment system the main purpose of which is to process, clear or settle credit transfers or direct debits which are primarily of small amount, and that is not a large-value payment system ‘(22)
targeted financial restrictive measure — an asset freeze imposed on a person, body or entity or a prohibition on making funds or economic resources available to a person, body or entity, or for its benefit, either directly or indirectly, pursuant to restrictive measures adopted in accordance with Article 215 TFEU (1e)