The Payment Services Regulations 2017

Regulations 43(2) and 48

SCHEDULE 4Prior general information for framework contracts

1.  The following information about the payment service provider—

(a)the name of the payment service provider;

(b)the address and contact details of the payment service provider’s head office;

(c)if different from the information under sub-paragraph (b), the address and contact details of the branch or agent from which the payment service is being provided;

(d)details of the payment service provider’s regulators, including any reference or registration number of the payment service provider.

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.

3.  The following information about charges, interest and exchange rates—

(a)details of all charges payable by the payment service user to the payment service provider, including those connected to the manner in and frequency with which information is provided or made available and, where applicable, a breakdown of the amounts of any charges;

(b)where relevant, details of the interest and exchange rates to be applied or, if reference interest and exchange rates are to be used, the method of calculating the actual interest and the relevant date and index or base for determining such reference interest or exchange rates;

(c)where relevant and if agreed, the immediate application of changes in reference interest or exchange rates and information requirements relating to the changes in accordance with regulation 50(4) (changes in contractual information).

4.  The following information about communication—

(a)the means of communication agreed between the parties for the transmission of information or notifications under these Regulations including, where relevant, any technical requirements for the payment service user’s equipment and software for receipt of the information or notifications;

(b)the manner in which and frequency with which information under these Regulations is to be provided or made available;

(c)the language or languages in which the framework contract will be concluded and in which any information or notifications under these Regulations will be communicated;

(d)the payment service user’s right to receive the terms of the framework contract and information in accordance with regulation 49 (information during period of contract).

5.  The following information about safeguards and corrective measures—

(a)where relevant, a description of the steps that the payment service user is to take in order to keep safe a payment instrument and how to notify the payment service provider for the purposes of regulation 72(1)(b) (obligations of the payment service user in relation to payment instruments and personalised security credentials);

(b)the secure procedure by which the payment service provider will contact the payment service user in the event of suspected or actual fraud or security threats;

(c)where relevant, the conditions under which the payment service provider proposes to reserve the right to stop or prevent the use of a payment instrument in accordance with regulation 71(2) to (6);

(d)the payer’s liability under regulation 77 (payer or payee’s liability for unauthorised payment transactions), including details of any limits on such liability;

(e)how and within what period of time the payment service user is to notify the payment service provider of any unauthorised or incorrectly initiated or executed payment transaction under regulation 74 (notification and rectification of unauthorised or incorrectly executed payment transactions), and the payment service provider’s liability for unauthorised payment transactions under regulation 76 (payment service provider’s liability for unauthorised payment transactions) or, as the case may be, section 83 of the Consumer Credit Act 1974(1) (liability for misuse of credit facilities);

(f)the payment service provider’s liability for the initiation or execution of payment transactions under regulation 91 or 92 (non-execution or defective or late execution of payment transactions);

(g)the conditions for the payment of any refund under regulation 79 (refunds for payment transactions initiated by or through a payee).

6.  The following information about changes to and termination of the framework contract—

(a)where relevant, the proposed terms under which the payment service user will be deemed to have accepted changes to the framework contract in accordance with regulation 50(2) (changes in contractual information), unless they notify the payment service provider that they do not accept such changes before the proposed date of their entry into force;

(b)the duration of the framework contract;

(c)where relevant, the right of the payment service user to terminate the framework contract and any agreements relating to termination in accordance with regulation 51 (termination of framework contract).

7.  The following information about redress—

(a)any contractual clause on—

(i)the law applicable to the framework contract;

(ii)the competent courts;

(b)the availability of alternative dispute resolution procedures for the payment service user and the methods for having access to them.