These Regulations are adopted pursuant to Paragraph 3, Article 17 of the Act Governing Electronic Payment Institutions (referred to as the "Act" hereunder).

The terms as used in these Regulations are defined as follows:
1. “Financial information service provider” shall mean a financial information service provider engaging in inter-institution funds transfer clearing services specified in Article 8 of the Act.
2. “Dedicated deposit account bank” shall mean the following financial institutions that enter into an agreement with a specialized electronic payment institution or a trustee bank for opening a dedicated deposit account:
(1) “Dedicated deposit account managing bank” (hereinafter referred to as "managing bank") is a bank that accepts the opening of a dedicated deposit management account.
(2) “Dedicated deposit account cooperative bank” (hereinafter referred to as "cooperative bank") is a financial institution that accepts the opening of a dedicated deposit cooperative account.
(3) “Dedicated deposit account clearing bank” (hereinafter referred to as "clearing bank") shall mean the bank designated by the financial information service provider to accept opening a dedicated deposit clearing account.
3. “Dedicated deposit account” shall mean the following deposit accounts used by a specialized electronic payment institution or a trustee bank exclusively to be deposited funds received from users:
(1) “Dedicated deposit managed account" (hereinafter referred to as "managed account") shall mean a current deposit account opened in a managing bank that accepts funds from users in cash and by account transfer and makes payment via interbank or intrabank account transfer.
(2) “Dedicated deposit cooperative account” (hereinafter referred to as "cooperative account") shall mean a current deposit account opened in a cooperative bank that accepts funds from users in cash and by account transfer and makes payment via intrabank account transfer.
(3) “Dedicated deposit clearing account” (hereinafter referred to as "clearing account") shall mean a demand deposit account opened at a clearing bank uses for inter-institution account clearing service and funds transfer between inter-bank fund transfer accounts.
4. “Income set-aside account” shall mean a demand deposit account opened by a specialized electronic payment institution in a managing bank and used exclusively for depositing interest or other income earned from the utilization of payment funds received from users set aside as required under Paragraph 4, Article 22 of the Act.
5. “Trustee bank” shall mean a bank to which a specialized electronic payment institution declares trust funds received from users for management, utilization and disposal in accordance with Paragraph 1, Article 21 of the Act.
6. “Inter-bank business fund account” shall mean a deposit account opened by the financial information service provider in the clearing bank and provided for a specialized electronic payment institution to allocate funds from its clearing account so that the financial information service provider uses it as the guarantee for calculating each transaction of the inter-institution payments made by that electronic payment institution, reallocates the funds and clears accounts at the end of the day.

For funds received from users deposited in a dedicated deposit account bank, a specialized electronic payment institution shall carry out deposit, management, transfer, drawing on and utilization related operations in coordination with the dedicated deposit account bank according to these Regulations.
The inter-institution account clearing and settlement for funds received from users between specialized electronic payment institutions, managing banks, and the clearing bank must meet the business guidelines set out by the financial information service provider.

A managing bank shall handle the following matters:
1. Manage the deposit, transfer, drawing on and utilization of funds from users deposited by a specialized electronic payment institution at the bank;
2. Check the deposit, transfer, drawing on and utilization of all funds from users against the information and statements provided by specialized electronic payment institutions, cooperative banks and clearing banks;
3. Regularly submit data and information on all dedicated deposit accounts to the competent authority;
4. Arrange the allocation of funds in all dedicated deposit accounts;
5. Coordinate with and supervise cooperative banks and clearing banks to carry out management related to funds from users; and
6. Other matters required by the competent authority.

A cooperative bank shall handle the following matters:
1. Manage the deposit, transfer, drawing on and utilization of funds from users deposited by a specialized electronic payment institution at the bank;
2. Regularly submit data and information on cooperative accounts to the managing bank;
3. Coordinate with managing bank to carry out management related to funds from users; and
4. Other matters required by the competent authority.

A clearing bank shall handle the following matters:
1. Manage the deposit, transfer, drawing on and utilization of funds from users deposited by a specialized electronic payment institution at the bank;
2. Regularly submit data and information on clearing accounts to the managing bank;
3. Coordinate with managing bank to carry out management related to funds from users; and
4. Other matters required by the competent authority.