TITLE IIITRANSPARENCY OF CONDITIONS AND INFORMATION REQUIREMENTS FOR PAYMENT SERVICES

CHAPTER 2Single payment transactions

Article 35Scope

1.

This Chapter shall apply to single payment transactions not covered by a framework contract.

2.

When a payment order for a single payment transaction is transmitted by a payment instrument covered by a framework contract, the payment service provider shall not be obliged to provide or make available information which is already given to the payment service user on the basis of a framework contract with another payment service provider or which will be given to him according to that framework contract.

Article 36Prior general information

1.

Member States shall require that before the payment service user is bound by any single payment service contract or offer, the payment service provider, in an easily accessible manner, makes available to the payment service user the information and conditions specified in Article 37. At the payment service user's request, the payment service provider shall provide the information and conditions on paper or on another durable medium. The information and conditions shall be given in easily understandable words and in a clear and comprehensible form, in an official language of the Member State where the payment service is offered or in any other language agreed between the parties.

2.

If the single payment service contract has been concluded at the request of the payment service user using a means of distance communication which does not enable the payment service provider to comply with paragraph 1, the payment service provider shall fulfil its obligations under that paragraph immediately after the execution of the payment transaction.

3.

The obligations under paragraph 1 may also be discharged by supplying a copy of the draft single payment service contract or the draft payment order including the information and conditions specified in Article 37.

Article 37Information and conditions

1.

Member States shall ensure that the following information and conditions are provided or made available to the payment service user:

(a)

a specification of the information or unique identifier that has to be provided by the payment service user in order for a payment order to be properly executed;

(b)

the maximum execution time for the payment service to be provided;

(c)

all charges payable by the payment service user to his payment service provider and, where applicable, the breakdown of the amounts of any charges;

(d)

where applicable, the actual or reference exchange rate to be applied to the payment transaction.

2.

Where applicable, any other relevant information and conditions specified in Article 42 shall be made available to the payment service user in an easily accessible manner.

Article 38Information for the payer after receipt of the payment order

Immediately after receipt of the payment order, the payer's payment service provider shall provide or make available to the payer, in the same way as provided for in Article 36(1), the following information:

  1. (a)

    a reference enabling the payer to identify the payment transaction and, where appropriate, information relating to the payee;

  2. (b)

    the amount of the payment transaction in the currency used in the payment order;

  3. (c)

    the amount of any charges for the payment transaction payable by the payer and, where applicable, a breakdown of the amounts of such charges;

  4. (d)

    where applicable, the exchange rate used in the payment transaction by the payer's payment service provider or a reference thereto, when different from the rate provided in accordance with Article 37(1)(d), and the amount of the payment transaction after that currency conversion; and

  5. (e)

    the date of receipt of the payment order.

Article 39Information for the payee after execution

Immediately after the execution of the payment transaction, the payee's payment service provider shall provide or make available to the payee, in the same way as provided for in Article 36(1), the following information:

  1. (a)

    the reference enabling the payee to identify the payment transaction and, where appropriate, the payer and any information transferred with the payment transaction;

  2. (b)

    the amount of the payment transaction in the currency in which the funds are at the payee's disposal;

  3. (c)

    the amount of any charges for the payment transaction payable by the payee and, where applicable, a breakdown of the amount of such charges;

  4. (d)

    where applicable, the exchange rate used in the payment transaction by the payee's payment service provider, and the amount of the payment transaction before that currency conversion; and

  5. (e)

    the credit value date.