Safeguarding Requirements for the Receipt of Funds for the Issuance of E-Money

Insofar as funds are received for the purpose of issuing e-money by means of payment using a payment instrument, those funds must be safeguarded as soon as they are credited to the e-money institution's payment account or made available to the e-money institution under section 675s of the Civil Code, and at the latest within five business days, within the meaning of section 675n(1), fourth sentence of the Civil Code, of the issuance of the e-money; the requirements of section 17 apply correspondingly.