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Article L133-28 of the French Monetary and Financial Code

I. – A decree defines the maximum amounts of payment, expenditure or storage of funds below which payment instruments designed to guarantee compliance with these thresholds are considered to be reserved for small-value payments. II. – For the instruments mentioned in I, the payment service provider may agree with the payer that : 1° The payer may not revoke the payment order after having transmitted it or after having given…

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Article L133-31 of the French Monetary and Financial Code

As an exception to article L. 133-30, when the parties are bound by a contract that expressly provides for a term, they may agree to reimburse expenses only in the following cases: 1° The request for redemption is made before the end of the contract ; 2° The electronic money holder terminates the contract before its term; 3° The electronic money holder requests redemption more than one year and one…

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Article L133-35 of the French Monetary and Financial Code

When the request for redemption of electronic money is made within one year of the term stipulated in the contract between an electronic money institution carrying out hybrid activities within the meaning of Article L. 526-3 and an electronic money holder, redemption is total if the proportion of the funds to be used in the form of electronic money is not agreed between the parties.

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Article L133-36 of the French Monetary and Financial Code

Redemption under this section shall be made, at the option of the electronic money holder, in legal tender coins and banknotes or by a payment transaction ordered by the issuer for the benefit of the electronic money holder. For redemption in coins and banknotes, the electronic money issuer may agree with the holder on redemption by transmission of funds. Notwithstanding any clause to the contrary, the electronic money issuer shall…

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