# The Payment Accounts Regulations 2015, Regulation 20: Fees


(1) 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.
(2) 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.
(3) In determining whether a fee charged pursuant to paragraph (2) is reasonable, regard shall be given to the following criteria—
(a) national income levels;
(b) average fees charged by UK credit institutions in respect of the service.
(4) Where a consumer holding a payment account with basic features—
(a) authorises a payment transaction from the account; and
(b) 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.
(5) 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.

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Source: https://www.legislation.gov.uk/ukdsi/2015/9780111140697/regulation/20 (the official version)
Page: https://openlegislation.uk/draft-payment-accounts-regulations-2015/regulation-20
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.