Valid from 13/01/2018
40.—(1) This Part applies to payment services where—
(a)the services are provided from an establishment maintained by a payment service provider or its agent in the United Kingdom; and
(b)the services are provided in one of the following circumstances—
(i)the payment service providers of both the payer and the payee are located within the EEA and the service relates to a transaction in the currency of an EEA State;
(ii)the payment service providers of both the payer and the payee are located within the EEA and the service relates to a transaction in a currency other than the currency of an EEA State; or
(iii)the payment service provider of either the payer or the payee, but not both, is located within the EEA.
(2) In the circumstances mentioned at paragraph (1)(b)(ii)—
(a)this Part applies only in respect of those parts of a transaction which are carried out in the EEA; and
(b)regulations 43(2)(b) and 52(a) and paragraph 2(e) of Schedule 4 (maximum execution time) do not apply.
(3) In the circumstances mentioned at paragraph (1)(b)(iii)—
(a)this Part applies only in respect of those parts of a transaction which are carried out in the EEA; and
(b)regulations 43(2)(b) and 52(a) and paragraphs 2(e) and 5(g) of Schedule 4 (maximum execution time and conditions for refund of direct debits) do not apply.
(4) This Part does not apply to registered account information service providers or EEA registered account information service providers, except for regulations 59 (burden of proof on payment service provider) and 60 (information requirements for account information service providers).
(5) Regulations 43 to 47 apply to payment services provided under a single payment service contract.
(6) Regulations 48 to 54 apply to payment services provided under a framework contract.
(7) If the payment service user is not a consumer, a micro-enterprise or a charity, the parties to a contract for payment services may agree that any or all of the provisions of this Part do not apply.
(8) Paragraph (1) applies to cash withdrawal services falling within paragraph 2(o) of Schedule 1 as if—
(a)references to payment services were references to cash withdrawal services falling within paragraph 2(o) of Schedule 1;
(b)references to payment service providers were references to providers of cash withdrawal services falling within paragraph 2(o) of Schedule 1; and
(c)references to this Part were references to regulation 61 (information on ATM withdrawal charges).
41.—(1) This regulation applies where a payment service is provided in relation to payment transactions that consist of the placing, transferring or withdrawal of funds covered by a credit line provided under a regulated agreement.
(2) Regulations 50 (changes in contractual information) and 51 (termination of framework contract) do not apply.
(3) Where a payment service provider is required to provide the same information to a payment service user by a provision in this Part and by a provision in the Consumer Credit Act 1974 M1 or subordinate legislation made under that Act (“a CCA provision”), information which has been provided in compliance with the CCA provision, and which was provided in a manner which complies with the requirements of the provision in this Part, need not be provided again in order to comply with the provision in this Part.
Marginal Citations
42.—(1) This regulation applies in respect of payment instruments which, under the framework contract governing their use—
(a)can be used only to execute individual payment transactions of 30 euros or less, or in relation to payment transactions executed wholly within the United Kingdom, 60 euros or less;
(b)have a spending limit of 150 euros or, where payment transactions must be executed wholly within the United Kingdom, 300 euros; or
(c)store funds that do not exceed 500 euros at any time.
(2) Where this regulation applies—
(a)regulations 48 and 52 do not apply and the payment service provider is only required to provide the payer with information about the main characteristics of the payment service, including—
(i)the way in which the payment instrument can be used;
(ii)the liability of the payer, as set out in regulation 77 (payer or payee's liability for unauthorised payment transactions);
(iii)charges levied;
(iv)any other material information the payer might need to take an informed decision; and
(v)an indication of where the information specified in Schedule 4 (prior general information for framework contracts) is made available in an easily accessible manner;
(b)the parties may agree that regulations 53 and 54 do not apply and instead—
(i)the payment service provider must provide or make available a reference enabling the payment service user to identify the payment transaction, the amount of the payment transaction and any charges payable in respect of the payment transaction;
(ii)in the case of several payment transactions of the same kind made to the same payee, the payment service provider must provide or make available to the payment service user information about the total amount of the payment transactions and any charges for those payment transactions; or
(iii)where the payment instrument is used anonymously or the payment service provider is not otherwise technically able to provide or make available the information specified in paragraph (i) or (ii), the payment service provider must enable the payer to verify the amount of funds stored; and
(c)the parties may agree that regulation 55(1) does not apply to information provided or made available in accordance with regulation 50.