# Directive 2007/64/EC of the European Parliament and of the Council of 13 November 2007 on payment services in the internal market amending Directives 97/7/EC, 2002/65/EC, 2005/60/EC and 2006/48/EC and repealing Directive 97/5/EC (Text with EEA relevance) (repealed) EU Directive 2007/64 ยท adopted 13 November 2007 Directive 2007/64/EC of the European Parliament and of the Council of 13 November 2007 on payment services in the internal market amending Directives 97/7/EC, 2002/65/EC, 2005/60/EC and 2006/48/EC and repealing Directive 97/5/EC (Text with EEA relevance) (repealed) ## Introductory text Directive 2007/64/EC of the European Parliament and of the Council of 13 November 2007 on payment services in the internal market amending Directives 97/7/EC, 2002/65/EC, 2005/60/EC and 2006/48/EC and repealing Directive 97/5/EC (Text with EEA relevance) (repealed) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Title I: SUBJECT MATTER, SCOPE AND DEFINITIONS ## 1 Subject matter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 2 Scope . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 3 Negative scope . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 4 Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Title II: PAYMENT SERVICE PROVIDERS ### Chapter 1: Payment institutions ### Section 1: General rules ## 5 Applications for authorisation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 6 Initial capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 7 Own funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 8 Calculation of own funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 9 Safeguarding requirements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 10 Granting of authorisation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 11 Communication of the decision . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 12 Withdrawal of authorisation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 13 Registration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 14 Maintenance of authorisation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 15 Accounting and statutory audit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 16 Activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Section 2: Other requirements ## 17 Use of agents, branches or entities to which activities are outsourced . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 18 Liability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 19 Record-keeping . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Section 3: Competent authorities and supervision ## 20 Designation of competent authorities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 21 Supervision . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 22 Professional secrecy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 23 Right to apply to the courts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 24 Exchange of information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 25 Exercise of the right of establishment and freedom to provide services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Section 4: Waiver ## 26 Conditions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 27 Notification and information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Chapter 2: Common provisions ## 28 Access to payment systems . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 29 Prohibition for persons other than payment service providers to provide payment services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Title III: TRANSPARENCY OF CONDITIONS AND INFORMATION REQUIREMENTS FOR PAYMENT SERVICES ### Chapter 1: General rules ## 30 Scope . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 31 Other provisions in Community legislation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 32 Charges for information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 33 Burden of proof on information requirements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 34 Derogation from information requirements for low-value payment instruments and electronic money . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Chapter 2: Single payment transactions ## 35 Scope . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 36 Prior general information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 37 Information and conditions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 38 Information for the payer after receipt of the payment order . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 39 Information for the payee after execution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Chapter 3: Framework contracts ## 40 Scope . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 41 Prior general information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 42 Information and conditions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 43 Accessibility of information and conditions of the framework contract . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 44 Changes in conditions of the framework contract . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 45 Termination . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 46 Information before execution of individual payment transactions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 47 Information for the payer on individual payment transactions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 48 Information for the payee on individual payment transactions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Chapter 4: Common provisions ## 49 Currency and currency conversion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 50 Information on additional charges or reductions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Title IV: RIGHTS AND OBLIGATIONS IN RELATION TO THE PROVISION AND USE OF PAYMENT SERVICES ### Chapter 1: Common provisions ## 51 Scope . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 52 Charges applicable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 53 Derogation for low value payment instruments and electronic money . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Chapter 2: Authorisation of payment transactions ## 54 Consent and withdrawal of consent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 55 Limits of the use of the payment instrument . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 56 Obligations of the payment service user in relation to payment instruments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 57 Obligations of the payment service provider in relation to payment instruments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 58 Notification of unauthorised or incorrectly executed payment transactions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 59 Evidence on authentication and execution of payment transactions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 60 Payment service provider's liability for unauthorised payment transactions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 61 Payer's liability for unauthorised payment transactions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 62 Refunds for payment transactions initiated by or through a payee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 63 Requests for refunds for payment transactions initiated by or through a payee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Chapter 3: Execution of payment transactions ### Section 1: Payment orders and amounts transferred ## 64 Receipt of payment orders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 65 Refusal of payment orders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 66 Irrevocability of a payment order . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 67 Amounts transferred and amounts received . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Section 2: Execution time and value date ## 68 Scope . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 69 Payment transactions to a payment account . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 70 Absence of payee's payment account with the payment service provider . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 71 Cash placed on a payment account . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 72 National payment transactions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 73 Value date and availability of funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Section 3: Liability ## 74 Incorrect unique identifiers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 75 Non-execution or defective execution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 76 Additional financial compensation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 77 Right of recourse . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 78 No liability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Chapter 4: Data protection ## 79 Data protection . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Chapter 5: Out-of-court complaint and redress procedures for the settlement of disputes ### Section 1: Complaint procedures ## 80 Complaints . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 81 Penalties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 82 Competent authorities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Section 2: Out-of-court redress procedures ## 83 Out-of-court redress . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Title V: IMPLEMENTING MEASURES AND PAYMENTS COMMITTEE ## 84 Implementing measures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 85 Committee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Title VI: FINAL PROVISIONS ## 86 Full harmonisation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 87 Review . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 88 Transitional provision . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 89 Amendment of Directive 97/7/EC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 90 Amendments of Directive 2002/65/EC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 91 Amendments of Directive 2005/60/EC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 92 Amendments of Directive 2006/48/EC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 93 Repeal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 94 Transposition . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 95 Entry into force . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 96 Addressees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Annex: PAYMENT SERVICES (DEFINITION 3 IN ARTICLE 4) ## 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 3 Execution of payment transactions, including transfers of funds on a payment account with the user's payment service provider or with another payment service provider: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 4 Execution of payment transactions where the funds are covered by a credit line for a payment service user: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . --- Source: https://www.legislation.gov.uk/eudr/2007/64 (the official version) Page: https://openlegislation.uk/eu-directive-2007-64 Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.