RegAlertGuidance · DNB · 22 Dec 2011
Childminding agencies and the prohibition under Section 3:5 of the Wft
The prohibition under Section 3:5 of the Financial Supervision Act (Wft) generally does not apply to childminding agencies because payments received from parents are not considered repayable funds. Once parents pay the agency, their obligation to the childminder is discharged, and they cannot claim reimbursement, meaning the agency does not hold funds it must repay. This classification remains unchanged even if the agency uses a separate customer accounts foundation to segregate funds. An exception applies only if parents retain the right to claim repayment from the agency before the funds are passed on to the childminders.
Q&A
Read aloud
Question:
Does the prohibition under Section 3:5 of the Financial Supervision Act (Wet op het financieel toezicht – Wft) also apply to childminding agencies?
Published: 22 December 2011
Answer:
A childminding agency provides intermediation services between parents looking for childminding services and individuals providing this service. In some cases, parents’ payments to childminders are made through the childminding agency.
Does this construction involve repayable funds?
In other words, does the childminding agency retain repayable funds, in which case the prohibition under Section 3:5 of the Wft applies? No, this is generally not the case.
The parents’ payment to the childminding agency means they have fulfilled their payment obligation with respect to the childminders and are discharged of this obligation. They cannot claim reimbursement from the childminders or the childminding agency. Therefore, there is no question of repayable funds and the prohibition under Section 3:5 of the Wft does not apply.
The childminding agency will usually be required to transfer the parents’ payment to the childminders. Again, this situation does not involve repayable funds, since they do not relate to repayments from the childminding agency to the childminders.
Customer accounts foundation
Many childminding agencies use a separate customer accounts foundation. By receiving parents’ payments on such an account, the agency ensures that the funds payable to the childminders are segregated from its own funds.
The use of a customer accounts foundation does not matter for answering the question of whether payments through a childminding agency involve repayable funds. In such a case, we look through this construction and determine on the basis of the actual underlying activities of the childminding agencies whether or not repayable funds are involved.
Exception
Only in the event that parents have paid the childminding agency and are still able to claim repayment – in whatever form – for as long as the childminding agency has not yet passed on the parents’ payment to the childminders, there may be a situation involving repayable funds. In such a case, the rules for onward payment described here apply .
Discover related articles
Q&A
Market access
Banks
Electronic money institutions
Share:
Share on LinkedIn
Share on X
Share on Facebook
Share via Email
Interesting articles
Fine for CCV Group B.V. for lack of SIRA
21 July 2026
Enforcement measures
De Nederlandsche Bank (DNB) discloses its decision of 9 July 2020 to impose an administrative fine on CCV Group B.V. (CCV). DNB also discloses its decisions on CCV’s objection of 13 April 2022 and CCV’s subsequent appeal and higher appeal.
Read more
Fine for CCV Group B.V. for lack of SIRA
Enforcement measures
21 July 2026
Prudential rules do not hinder bank financing for EU priorities
17 July 2026
News item supervision
Europe faces historic investment challenges, in which banks will play an important financing role. Prudential requirements strengthen banks’ resilience, without posing a major obstacle to their financing. Unlocking more private finance requires better risk-sharing and deeper financial integration.
Read more
Prudential rules do not hinder bank financing for EU priorities
News item supervision
17 July 2026
DNB Inhouse Day for the Dutch banking sector: financial crime supervision
16 July 2026
News item supervision
Following last year’s successful event, De Nederlandsche Bank (DNB) will again host an Inhouse Day for AML/CFT professionals in the Dutch banking sector. The event is designed to encourage dialogue and provide further insight into DNB’s AML/CFT supervision.
Read more
DNB Inhouse Day for the Dutch banking sector: financial crime supervision
News item supervision
16 July 2026
Administrative fine imposed on CCV for inadequate customer due diligence
13 July 2026
Enforcement measures
De Nederlandsche Bank (DNB) imposed an administrative fine of €2.65 million on payment institution CCV Netherlands B.V. (CCV). We have imposed the fine because CCV failed to adequately and continuously monitor transactions.
Read more
Administrative fine imposed on CCV for inadequate customer due diligence
Enforcement measures
13 July 2026
Note from RegAlert. AI assistants can read this document in full, and search 70,000+ more, through the RegAlert MCP connector (https://mcp.regalert.today/mcp). Free with an account. How to connect ChatGPT, Claude or Cursor.
More like this from DNB
We email you every new DNB publication the day it's published.
Source: De Nederlandsche Bank — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
In RegAlert: added · updated