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Page under internal review, not published. It depends on elements that must be verified in the entity’s documents before going live. It appears neither in the site map nor on public pages.
Trust Under review

You will know where the funds are, and on what conditions they come back.

A euro paid into a programme is not a euro lent to MAP. You must be able to tell your board where the funds are, who holds them and on what conditions they come back. This page describes the flow they follow and the safeguarding mechanism adopted, as established in the entity’s documents.

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Flow of funds

What happens to a euro paid into your programme

Electronic money is issued against funds received. It creates no value: it gives your budgets a usable, earmarkable form.

  1. 01 Funds received Your organisation transfers the programme funds to the institution by bank transfer.
  2. 02 Funds safeguarded They are held so as not to be mixed with the institution’s own operating assets.
  3. 03 Issuance The corresponding electronic money is issued, backed by the euro one for one: not a euro more than the funds received.
  4. 04 Use It is allocated to beneficiaries and spent within the framework you have set, at authorised suppliers.
  5. 05 Redemption Electronic money that has not been used is redeemed under the conditions set out in the contract.
Diagram of principle. The account-holding institutions, the exact parties involved and the applicable regime are published from the entity’s account agreements and safeguarding procedure.

Safeguarding mechanism

The regulations provide for distinct methods of safeguarding the funds received. The one that applies to an institution appears in its documents and in the decisions of its authority. MAP publishes here the mechanism actually adopted and what it covers. No generic description replaces that element: describing a mechanism that is not the one of the programme would be misleading.

Parties identified

Knowing where the funds are means knowing who holds them. Each party in the flow has a role, and that role determines what it answers for.

Issuing institution
Receives the funds, issues the electronic money, redeems it and answers for the safeguarding mechanism.
Account-holding institution
Holds the funds received, under the agreement concluded with the issuing institution.
Funder
Transfers the programme funds and accounts for them to its own governing bodies.
Beneficiary
Holds the electronic money allocated and spends it within the framework set.
Supplier
Receives the payment and is settled for the goods or services provided.

The names of the institutions concerned are published once the agreements are attached and their citation is authorised.

Safeguarding of funds and deposit guarantee are two different things
A mechanism for safeguarding electronic money funds is not a deposit guarantee scheme. It does not fall under the same regime, does not cover the same situations and does not confer the same rights. Electronic money is not a bank deposit and bears no interest. This page therefore never presents the safeguarding of funds as a banking guarantee.

Redemption and end of programme

The questions your finance department asks

Where are the funds received held?
The nature of the accounts, the institutions concerned and the applicable regime are stated from the entity’s documents. The principle is settled: those funds do not finance the institution’s operations.
Who may request a redemption, and within what time frame?
The conditions for redemption are published as they appear in the contract: who may request it, time frame, documents, any fees. No time frame is announced on this site before it is established.
What happens if a party involved fails?
The documented consequences of an incident or of a failure are described without extrapolation, from the measures actually in place and from the continuity plan.
Can an unused balance be lost?
The end of a programme’s period of use and the right to redeem electronic money are two distinct questions. No automatic forfeiture is presumed: the applicable treatment is the one set out in the contract.

Applicable documents

The documents that establish this page

Safeguarding procedure Method adopted, what it covers, controls
On request
Account agreements Account-holding institutions and parties involved
Restricted
General terms and conditions of use Redemption, balances, end of programme
On request
The general mechanism
Issuance, holding, use and redemption: the overall mechanism is described in the How it works section.
Programme exit
What you get back, the balances in circulation and the external dependencies are covered on a dedicated page.