Regulation 20 Fees
Subject to paragraph (2), a credit institution must not charge any fee for the services set out in regulation 19(1) when those services are provided as part of a payment account with basic features.
Where a credit institution provides any service set out in regulation 19(1) to a consumer in a currency other than sterling, the credit institution may charge a fee for that service provided that the fee charged is reasonable.
In determining whether a fee charged pursuant to paragraph (2) is reasonable, regard shall be given to the following criteria—
national income levels;
average fees charged by UK credit institutions in respect of the service.
Where a consumer holding a payment account with basic features—
authorises a payment transaction from the account; and
the payment transaction is not executed as a result of there being insufficient funds available,
the credit institution must not charge the consumer any fee.
Where there has been overrunning on a payment account with basic features, a credit institution must not charge the consumer any fee or any interest.