# The Payment Accounts Regulations 2015, Regulation 24: Timescale for opening a payment account with basic features


Where an application for a payment account with basic features is made by a consumer to a designated credit institution, the designated credit institution must open or refuse to open the account without undue delay, and no later than 10 business days from receipt of the completed application.

---
Source: https://www.legislation.gov.uk/ukdsi/2015/9780111140697/regulation/24 (the official version)
Page: https://openlegislation.uk/draft-payment-accounts-regulations-2015/regulation-24
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.