transfer of funds

Definition of transfer of funds from Regulation (EU) 2023/1113, Article 3, point (9).

Defined term	transfer of funds
Source	ToFR
Reference	Article 3, point (9)
Status	Published
Refresh rule	Regenerate after source legal-text changes

Definition

1. 'transfer of funds' means any transaction at least partially carried out by electronic means on behalf of a payer through a payment service provider, with a view to making funds available to a payee through a payment service provider, irrespective of whether the payer and the payee are the same person and irrespective of whether the payment service provider of the payer and that of the payee are one and the same, including:

   1. a credit transfer as defined in Article 4, point (24), of Directive (EU) 2015/2366;
   2. a direct debit as defined in Article 4, point (23), of Directive (EU) 2015/2366;
   3. a money remittance as defined in Article 4, point (22), of Directive (EU) 2015/2366, whether national or cross-border;
   4. a transfer carried out using a payment card, an electronic money instrument, a mobile phone or any other digital or IT prepaid or postpaid device with similar characteristics;

Source

ToFR, Article 3, point (9).

Used In ToFR

• Article 1 — Subject matter
• Article 2 — Scope
• Article 10 — Retention of information on the payer and the payee accompanying the transfer
• Article 11 — Detection of missing information (intermediary PSPs)
• Article 12 — Transfers of funds with missing information (intermediary PSPs)
• Article 13 — Assessment and reporting (intermediary PSPs)
• Article 4 — Information accompanying transfers of funds
• Article 7 — Detection of missing information on the payer or the payee
• Article 8 — Transfers of funds with missing or incomplete information on the payer or the payee
• Article 9 — Assessment and reporting
• Article 25 — Data protection
• Article 29 — Specific provisions