CJEU

CJEU Crystallises the Definition of a ‘Payment Account’

Authors: James Debono
Published on May 3, 2019
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Practices: E-Money & Payment Services
In October last year, the European Court of Justice (CJEU or the Court) hammered home the circumstances under which an online savings account can be excluded from the definition of the ‘payment account’ under the Directive 2007/64 (Payment Services Directive or PSDI), thereby rendering the latter inapplicable. Case C-191/17, Bundeskammer für Arbeiter und Angestellte v ING-DiBa Direktbank Austria Niederlassung der ING-DiBa AG, was the first occasion wherein the Court had to:

E-Money on the Agenda of the CJEU

Authors: James Debono
Published on March 8, 2019
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Practices: E-Money & Payment Services
The new year at the Court of Justice of the European Union (“CJEU”) kicked off with a head-scratcher – a preliminary ruling concerning electronic money institutions (“EMI(s)”). This case is of particularly relevance to the Maltese market as it highlights a number of key points which are currently being discussed in the context of the soaring fintech wave hovering over our shores.

Mind your IBANS, says CJEU

Authors: James Debono
Published on December 5, 2019
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Practices: Banking Regulatory
At the end of March this year, the European Court of Justice (CJEU or the Court) explained the principles behind Articles 74 and 75 of Directive 2007/64 (Payment Services Directive or PSDI) which provisions relate to payment orders effected by means of a bank transfer following the input of the incorrect unique identifier (such as an international bank account number or IBAN) by the payer. PSDI defines a ‘unique identifier’ as a combination of letters, numbers or symbols specified to the payment service user by the payment service provider and to be provided by the payment service user to identify unambiguously the other payment service user and/or his payment account for a payment transaction.