# PSD3 Article 5 — Initial capital

Textual state: amended_substantial. 49 words changed

- Current text: Council final compromise text (Council document 8222/26) — not yet law.
- Compared against: COM(2023) 366 final — superseded.
- Classification is mechanical; method: https://paymentslaw.eu/method/
- Editorial review state: not_assessed. Markers are curated and selective, not a complete assessment.

Word-level diff, proposal → compromise: `{+text+}` was inserted, `[-text-]` was deleted.

## Paragraph 0

Member States shall require payment institutions to hold, at the time of authorisation, initial capital, comprised of one or more of the items referred to in Article 26, points (1)(a) to (e), of Regulation (EU) No 575/2013 as follows: (a) where the payment institution provides only the payment service referred to in Annex I, point (5), its capital shall at no time be less than EUR [-25 -]{+40 +}000; (b) where the payment institution provides the payment service referred to in Annex I, point (6), its capital shall at no time be less than EUR 50 000; (c) {+without prejudice to point (a), +}where the payment institution provides any of the payment services referred to in Annex I, points (1) to [-(4), -]{+(5), +}its capital shall at no time be less than EUR 150 000; (d) where the payment institution provides [-electronic money services, -]{+payment service referred to in Annex I, point (8), +}its capital shall at no time be less than EUR [-400 -]{+250 +}000. {+Where the payment institution provides payment services referred to in more than one of points (b), (c) and (d), the minimum amounts shall be added together.+}