The Payment Accounts Regulations 2015

The comparison website

This section has no associated Explanatory Memorandum

12.—(1) The Money Advice Service must provide consumers with access, free of charge, to a website comparing fees charged by payment service providers for at least the services featured in the linked services list (“the comparison website”).

(2) The comparison website must—

(a)give payment service providers equal treatment in search results;

(b)clearly disclose that it is owned by the Money Advice Service;

(c)set out, clear, objective criteria on which the comparison is to be based;

(d)use plain and unambiguous language and, where applicable, the terms set out in the linked services list;

(e)provide accurate and up-to-date information and state the time of the last update;

(f)include a broad range of payment account offers covering a significant part of the market, and where the information presented is not a complete overview of the market, a clear statement to that effect before displaying results; and

(g)provide an effective procedure to report incorrect information on published fees.