electronic money

You have electronic money (also called E-money) if you receive an electronic deposit in the form of a monetary value in exchange for 'normal' money. An exchange must therefore take place. The money is only electronic money if you pay money in exchange for another payment deposit. Moreover, the deposit must be recorded on an electronic carrier. In other words, there are three conditions for qualification as electronic money:
You first pay your money: payment of cash (notes and coins) or a transfer of funds;
You receive an instrument of payment in return: the deposit that you receive in exchange for the money you have paid must serve as an instrument of payment;
The monetary value is stored on an electronic carrier. This may be a physical card with a chip, but it can also be a deposit stored on the institution's central server, for example (a card with a code that allows you to access a deposit on the Internet or a deposit on the Internet for which you receive an access code by E-mail, etc.).
If you increase the deposit on your chip card, for example, the institution withdraws funds from your bank account, in exchange for which you receive a deposit in the form of a monetary value. That deposit is stored on a chip, which is an electronic carrier. As such, the deposit on a chip card is the perfect example of electronic money (E-money). However, a deposit on the Internet for which you have paid cash or have transferred funds can also constitute electronic money.