Regulation 88 Cash placed on a payment account
Where a payment service user places cash on its payment account with a payment service provider in the same currency as that payment account, the payment service provider must—
(a)
if the user is a consumer, micro-enterprise or charity, ensure that the amount is made available and value dated immediately after the receipt of the funds;
(b)
in any other case, ensure that the amount is made available and value dated no later than the end of the next business day after the receipt of the funds.
Notes on the whole SI
Textual amendments
- F1
Regulations revoked (14.12.2023 for the revocation of reg. 158) 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)(xix)