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- Point in Time (13/01/2018)
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Version Superseded: 31/12/2020
Point in time view as at 13/01/2018.
There are currently no known outstanding effects for the The Payment Accounts Regulations 2015, SCHEDULE 1.
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Regulation 8(2)
1. The fee information document must comply with the requirements of any implementing technical standards adopted by the European Commission under Article 4(6) of the Payment Accounts Directive regarding a standardised presentational format of the fee information document and its common symbol.
2. The fee information document must—
(a)use the terms featured in the linked services list; and
(b)where the payment service provider offers any service featured in the linked services list, quote the corresponding fee for that service.
3. Where one or more services featured in the linked services list are offered as part of a package of services linked to a payment account, the fee information document must disclose—
(a)the fee for the entire package;
(b)the services included in the package and their quantity; and
(c)the additional fee for any service that exceeds the quantity covered by the package fee.
4. The fee information document must—
(a)be a short and stand-alone document;
(b)be presented and laid out in a way that is clear and easy to read using characters of a readable size;
(c)be no less comprehensible in the event that, having been originally produced in colour, it is printed or photocopied in black and white;
(d)be written in English or, if agreed by the consumer and payment service provider, in another language;
(e)be accurate, not misleading, and expressed in the currency of the payment account or, if agreed by the consumer and the payment service provider, in another currency of the European Union;
(f)contain the title “fee information document” at the top of the first page next to the common symbol referred to in paragraph 1 to distinguish the fee information document from other documentation;
(g)include a statement that it contains fees for the most representative services related to the payment account and that complete pre-contractual and contractual information on all the services is provided in other documents.
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