Paragraph 1

Subject to Part 2, the following, when carried out as a regular occupation or business activity, are payment services—

(a)

services enabling cash to be placed on a payment account and all of the operations required for operating a payment account;

(b)

services enabling cash withdrawals from a payment account and all of the operations required for operating a payment account;

(c)

the 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—

(i)

execution of direct debits, including one-off direct debits;

(ii)

execution of payment transactions through a payment card or a similar device;

(iii)

execution of credit transfers, including standing orders;

(d)

the execution of payment transactions where the funds are covered by a credit line for a payment service user—

(i)

execution of direct debits, including one-off direct debits;

(ii)

execution of payment transactions through a payment card or a similar device;

(iii)

execution of credit transfers, including standing orders;

(e)

issuing payment instruments or acquiring payment transactions;

(f)

money remittance;

(g)

payment initiation services;

(h)

account information services.

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)