{"id":34693,"date":"2024-11-19T00:00:07","date_gmt":"2024-11-19T06:00:07","guid":{"rendered":"https:\/\/garciabodan.com\/?p=34693"},"modified":"2025-09-05T12:10:38","modified_gmt":"2025-09-05T18:10:38","slug":"honduras-publishes-new-regulations-for-electronic-money-services","status":"publish","type":"post","link":"https:\/\/garciabodan.com\/en\/honduras-publishes-new-regulations-for-electronic-money-services\/","title":{"rendered":"Honduras publishes new regulations for electronic money services"},"content":{"rendered":"<p style=\"text-align: justify;\"><span data-contrast=\"auto\">The Central Bank of Honduras (<strong>BCH<\/strong>) has published in <\/span><strong><i>La Gaceta<\/i><\/strong><span data-contrast=\"auto\"> the New Regulations for Payment and Transfer Services Using Electronic Money. The purpose of this regulation is to regulate the organization, operation, and functioning of legal entities offering payment and transfer services that use electronic money within the national territory.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p>\r\n<p style=\"text-align: justify;\"><b><span data-contrast=\"auto\">Entities Subject to This Regulation:<\/span><\/b><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p>\r\n<ul style=\"text-align: justify;\">\r\n\t<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Non-Banking Electronic Money Institutions (INDEL):<\/span><\/b><span data-contrast=\"auto\"> Entities authorized to provide electronic money and offer electronic transfer services and payment for goods or services.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\r\n<\/ul>\r\n<ul style=\"text-align: justify;\">\r\n\t<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Domestic or Foreign Legal Entities:<\/span><\/b><span data-contrast=\"auto\"> Entities not subject to the Financial System Law or the Cooperatives Law.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\r\n<\/ul>\r\n<ul style=\"text-align: justify;\">\r\n\t<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"3\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Institutions of the National Financial System (IFI):<\/span><\/b><span data-contrast=\"auto\"> Public and private banks, savings and loan associations, financial companies, and others that are engaged in the activities outlined in the Financial System Law on a regular and systematic basis.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\r\n<\/ul>\r\n<ul style=\"text-align: justify;\">\r\n\t<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"4\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Savings and Credit Cooperatives (CAC):<\/span><\/b><span data-contrast=\"auto\"> Entities subject to the Cooperatives Law of Honduras and its regulations.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\r\n<\/ul>\r\n<p style=\"text-align: justify;\"><b><span data-contrast=\"auto\">Key Provisions:<\/span><\/b><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p>\r\n<p><b><span data-contrast=\"auto\">1. Authorization and Operation:<\/span><\/b><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p>\r\n<ul>\r\n\t<li style=\"text-align: justify;\"><span data-contrast=\"auto\">Legal entities wishing to offer electronic money services must obtain authorization from the <strong>BCH<\/strong>, which will require a favorable opinion from the National Banking and Insurance Commission (<strong>CNBS<\/strong>).<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\r\n<\/ul>\r\n<p><b><span data-contrast=\"auto\">2.Capital Requirements:<\/span><\/b><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p>\r\n<ul>\r\n\t<li style=\"text-align: justify;\"><span data-contrast=\"auto\">The minimum capital for <strong>INDELs<\/strong> must be <strong>USD 4,021.08 (L100,000.00)<\/strong> and must adjust based on the average daily balance of electronic money on their technological platform.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\r\n<\/ul>\r\n<p><b><span data-contrast=\"auto\">3.Operation and Security:<\/span><\/b><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p>\r\n<ul>\r\n\t<li style=\"text-align: justify;\"><span data-contrast=\"auto\"><strong>INDELs, IFIs<\/strong>, and <strong>CACs<\/strong> must implement security measures and controls to mitigate risks, including cybersecurity and data protection.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\r\n<\/ul>\r\n<p><b><span data-contrast=\"auto\">4.Authorized Services:<\/span><\/b><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p>\r\n<ul>\r\n\t<li style=\"text-align: justify;\"><span data-contrast=\"auto\">The services allowed include the activation of electronic wallets, conversion of physical money to electronic money and vice versa, balance inquiries, sending and receiving domestic transactions, purchasing goods and services, among others.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\r\n<\/ul>\r\n<p><b><span data-contrast=\"auto\">5.Prohibitions:<\/span><\/b><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p>\r\n<ul>\r\n\t<li style=\"text-align: justify;\"><span data-contrast=\"auto\">INDELs cannot engage in financial intermediation activities unrelated to their business model, allow overdrafts of electronic money, or activate more than one electronic wallet per user.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\r\n<\/ul>\r\n<p style=\"text-align: justify;\"><b><span data-contrast=\"auto\">Obligations of Entities:<\/span><\/b><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p>\r\n<p style=\"text-align: justify;\"><span data-contrast=\"auto\">Entities must keep user funds segregated from their own resources, ensure liquidity in their network of agents, monitor transactions continuously, and ensure the reversal of amounts debited in unsuccessful transactions.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p>\r\n<p style=\"text-align: justify;\"><span data-contrast=\"auto\">Additionally, the <strong>BCH<\/strong> will oversee compliance with the regulations and may update the required minimum capital for <strong>INDELs<\/strong>. Entities must also report their operations regularly and maintain detailed records of transactions.<\/span><\/p>","protected":false},"excerpt":{"rendered":"<p>The Central Bank of Honduras (BCH) has published in La&#8230;<\/p>\n","protected":false},"author":10,"featured_media":42816,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[226,229],"tags":[],"class_list":["post-34693","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-alert","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/garciabodan.com\/en\/wp-json\/wp\/v2\/posts\/34693","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/garciabodan.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/garciabodan.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/garciabodan.com\/en\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/garciabodan.com\/en\/wp-json\/wp\/v2\/comments?post=34693"}],"version-history":[{"count":2,"href":"https:\/\/garciabodan.com\/en\/wp-json\/wp\/v2\/posts\/34693\/revisions"}],"predecessor-version":[{"id":42818,"href":"https:\/\/garciabodan.com\/en\/wp-json\/wp\/v2\/posts\/34693\/revisions\/42818"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/garciabodan.com\/en\/wp-json\/wp\/v2\/media\/42816"}],"wp:attachment":[{"href":"https:\/\/garciabodan.com\/en\/wp-json\/wp\/v2\/media?parent=34693"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/garciabodan.com\/en\/wp-json\/wp\/v2\/categories?post=34693"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/garciabodan.com\/en\/wp-json\/wp\/v2\/tags?post=34693"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}