Paragraph 5 Information about the alternative arrangement

(1)

A participating payment service provider must make available to consumers the following information about the alternative arrangement—

(a)

the roles played by participating payment service providers when switching payment accounts;

(b)

the time limits that apply for the completion of any tasks provided for in the alternative arrangement;

(c)

any fees that are to be be charged;

(d)

details of any information that the consumer is required to provide;

(e)

details of the consumer’s right to make a complaint to the Financial Ombudsman Service.

(2)

The information referred to in sub-paragraph (1) must be made available —

(a)

free of charge on paper or another durable medium at all premises of the participating payment service provider that are accessible to consumers; and

(b)

in electronic form on the participating payment service provider’s website at all times.

Notes on the whole SI

F1: Regulations revoked (14.12.2023 for the revocation of reg. 44) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 2 (with s. 1(4)); S.I. 2023/1382, reg. 2(c)(xiv)