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Paragraph 2

The following information about the payment service—

(a)

a description of the main characteristics of the payment service to be provided;

(b)

the information or unique identifier that must be provided by the payment service user in order for a payment order to be properly initiated or executed;

(c)

the form and procedure for giving consent to the initiation of a payment order or execution of a payment transaction and for the withdrawal of consent in accordance with regulation 67 (consent and withdrawal of consent);

(d)

a reference to the time of receipt of a payment order, in accordance with regulation 81 (receipt of payment orders), and the cut-off time, if any, established by the payment service provider;

(e)

the maximum execution time for the payment services to be provided;

(f)

whether spending limits for the use of a payment instrument may be agreed in accordance with regulation 71(1) (limits on the use of payment instruments);

(g)

in the case of co-badged card-based payment instruments, the payment services user's rights under Article 8 of the interchange fee regulation.

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)