Protection of funds. The collected funds are protected against any claims from other creditors of the Issuer, including in the event of enforcement proceedings or insolvency proceedings against the institution. The User’s funds are deposited at the end of each Business Day into an account opened with a Bank and are ring fenced by the Bank.
Protection of funds. Teachers are expected to exercise prudence and good judgment in collecting, storing, depositing and accounting for school related funds.
Protection of funds. The Account Holder’s funds are deposited, at the end of the Business Day following the day on which they were received by the Service Provider, in an escrow account opened in the records of a Bank under the conditions required by the regulations. Pursuant to Article 24-10 (5) of the Law of 20 May 2011 published in Mémorial A No. 104 of 24 May 2011 of the Grand Duchy of Luxembourg and Article 14 of the Law of 10 November 2009 published in Mémorial A No. 215 of 11 November 2009 of the Grand Duchy of Luxembourg, transposing Directive 2009/110/EC of the European Parliament and of the Council of 16 September 2009 concerning access to the activity of electronic money institutions, the funds collected are protected and do not fall into the electronic money institution’s assets in the event of its liquidation, bankruptcy or any other state of support.
Protection of funds. We ensure that once we have received the funds they are deposited in a secure account, specifically for the purpose of redeeming Transactions made by the Card. In the event that we become insolvent, funds against which the Issuer has already issued electronic money are protected against the claims made by creditors.
Protection of funds. The Seller’s funds are protected against any claims from other creditors of the Service Provider, including enforcement proceedings or insolvency proceedings against the Service Provider. The Seller’s funds are deposited at the end of each Business Day into a bank account opened with a Bank and are ring fenced by it.
Protection of funds. The User’s funds are protected against any claims from other creditors of the Service Provider, including enforcement proceedings or insolvency proceedings against the Service Provider. The User’s funds are deposited at the end of each Business Day into a bank account opened with a Bank and are ring fenced by it.
Protection of funds. In regard to the provision of Services under this Agreement, FUMBI emphasizes that Deposits or any other funds of the User, including virtual currencies acquired by the User in the provision of Services, are not subject to deposit protection within the meaning of Act No. 118/1996 Coll., on Deposit Protection and on Amendments to Certain Acts, or the subject of protection by the Investment Guarantee Fund in accordance with Act No. 566/2001 Coll., on Securities and Investment Services and on Amendments to Certain Acts (Securities Act)
Protection of funds. Institution states that the deposited funds will be safeguarded in accordance with the legal requirements specified in article 21.1 a) of Royal Decree-Law 19/2018, of November 23, on payment services and other urgent financial measures. Institution expressly declares and undertakes that said funds will not be mixed at any time with the funds of any other natural or legal person who are not clients of the payment services on whose behalf such funds are made available.
Protection of funds. Property
Protection of funds. The Account Holder’s funds shall be deposited, at the end of the Business Day following the day that they were received by the Service Provider, in a holding account open on the books of a Bank under the conditions required by regulations. Under the terms of Article 24-10 (5) of the Law of 20 May 2011, and Article 14 of the Law of 10 November 2009, the funds collected are protected and are not included in the pool of assets of the electronic money institution in the event of liquidation, bankruptcy or any other competitive situation that may arise for this latter.
