1 After confirming the payee’s identity in accordance with national legislation and the accuracy of the information the payee has provided, as well as due compliance with any relevant provisions on the prevention of money laundering, terrorist financing and financial crime, the designated operator shall make the payment in cash. For an inpayment order or a transfer, this payment shall be credited to the payee’s account.

2 The time limits for release of the funds shall be established in the bilateral and multilateral agreements between designated operators.