Payment Services Regulations 2017
What this means for your business
- Applies to
- United Kingdom
- On this page
- 73 compliance obligations, 3 practical guides across 3 topics
What you must do
73 compliance obligations under this legislation — 2 can result in imprisonment.
Management duties 22
Apply strong customer authentication and protect users’ credentials
If your business provides payment services, you must use strong customer authentication (SCA) whenever a customer accesses their account online, makes an electronic payment, or performs any remote action that could lead to fraud. The authentication must dynamically link the transaction to the exact amount and payee, and you must keep the security credentials confidential and secure.
Block only exact authorised amounts and release funds promptly
If your business provides card‑based payment services and a transaction is started by the payee but the amount isn’t known when the payer authorises it, you must not hold (block) any money unless the payer has specifically authorised that exact amount. As soon as you learn the final amount – or as soon as you receive the payment order – you must free any blocked funds without delay.
Charge customers only where permitted and ensure charges are paid correctly
If your business provides payment services, you may only levy fees that are allowed by the regulations, that the customer has agreed to, and that reflect your actual costs. You must also make sure the payer pays any fees you charge and the payee pays any fees charged by their provider, and you cannot stop the payee from asking for, offering or steering customers towards cheaper payment methods.
Ensure payment‑system access rules are fair and proportionate
If your business is an authorised or registered payment service provider, any rules you set for who can join or use a payment system must be objective, proportionate and non‑discriminatory. You may only restrict access where it is strictly needed to manage specific risks or protect the stability of the system, and you must not treat providers differently because of their status.
Execute payments in agreed currency and disclose conversion charges
Unlimited fineWhen you run a payment service or sell a transaction that involves changing currency, you must make sure the payment is carried out in the currency the parties agreed. If you offer a currency‑conversion option (for example at an ATM, at the checkout or as the payee), you must clearly show the payer the exchange rate you’ll use and any fees before the payment is made.
Grant credit only under strict conditions
If your business is an authorised or small payment institution and you decide to give credit as part of a payment service, you must only do so as ancillary credit linked to the transaction, must not use the customer’s transaction funds, and must keep enough of your own capital to cover the credit (as judged by the FCA). In practice this means you need clear credit‑granting rules and records to prove you meet these limits.
Maintain required capital levels at all times
If your business is authorised as a payment institution, you must always hold enough own funds to meet the higher of the regulator‑set initial capital or the amount calculated under the detailed capital rules. Your capital must be split correctly between Tier 1 and Tier 2, with most of Tier 1 being common equity, and you cannot count the same money elsewhere in your group.
Make funds available to payee immediately and credit/debit on the correct day
If you operate a payment service (e.g., a bank or payment platform), you must credit the payee’s account by the business day the money reaches your own account and make those funds instantly available to the payee. You also must not debit the payer’s account before the money is actually taken from it. This applies to payments that meet the conditions set out in paragraph 2 (no currency conversion, euro‑pound conversion, or only one provider involved).
Manage operational & security risks and report annually to the FCA
If your business provides payment services, you must put in place a risk‑management system that identifies, controls and mitigates operational and security risks, and you need clear procedures for handling major incidents. You also have to give the FCA an up‑to‑date, detailed risk assessment each year (or more often if asked) showing how you are managing those risks.
Manage termination of payment services framework contracts
If you want to end your payment‑service agreement, you must give any notice the contract requires (the notice period cannot be longer than one month). Check that any termination fee the provider charges only covers its actual costs and that any advance payment is refunded proportionally. The provider cannot charge you after six months of the contract.
Obtain explicit user consent before handling personal data
If you run a payment service, you must not look at, use or keep any customer's personal data unless the customer has given you clear, explicit permission. Put a system in place to capture that consent and keep a record before you process any personal data.
Provide customers with ATM withdrawal charge information
If your business operates ATMs or offers cash‑withdrawal services covered by the regulations, you must tell customers about any fees before they make the withdrawal and again when they receive the cash. The information must include all the details set out in regulations 43, 45, 46 and 57.
Provide objective, non‑discriminatory access to payment accounts
If you run a credit institution (bank), you must allow authorised payment service providers to use your payment‑account services on a fair, objective and proportionate basis. When they ask, you must tell them the criteria you use, apply those criteria consistently, and if you refuse or withdraw access you must inform the FCA with reasons.
Provide payment‑service information clearly and accessibly
When you supply information to customers about a payment you are handling, you must make it easy for them to get. If they ask, you must give it on paper or another durable medium, use plain language, and provide it in English unless both parties agree another language.
Provide required pre‑contract information to payment service users
Before you sign a framework contract with a customer, you must give them a full set of information about your business, the payment service, any charges, how communication will work, security steps, how the contract can change or end, and how disputes are handled. This ensures the customer knows exactly what they are signing up for and their rights.
Refund unauthorised payments and restore accounts promptly
If a payment processed by your business was not authorised by the customer, you must give the payer back the money and put their account back to the state it would have been in if the payment had never happened. The refund must be made as soon as possible and no later than the end of the next business day after you become aware of the unauthorised transaction, and the account credit must be dated on the same day the money was taken out. If a payment‑initiation service was used and is liable, you must claim compensation from them.
Register agents with the FCA and keep their details up‑to‑date
If you provide payment services in the UK, you can only use an agent that is on the FCA’s register. You must apply to the FCA with the required information to get the agent registered, make sure the agent tells customers they are dealing with an agent, and promptly tell the FCA of any changes to the agent’s details.
Request refunds within 8 weeks and supply required information
If you’ve paid for goods or services and want your money back, you must ask your payment service provider for a refund within 8 weeks of the charge. You may be asked to give reasonable information to prove the claim, and the provider must either refund you or explain why they can’t, usually within 10 business days.
Secure payment instruments and manage loss notifications
If your business issues cards, virtual wallets or any other payment instrument, you must keep the user’s personal security details secret and never send an instrument the user hasn’t asked for (except for a replacement). You also need to give users a free way to tell you the instrument is lost or mis‑used, stop it from being used as soon as they do, and be able to provide proof of that notification for up to 18 months.
Treat indirect access requests to payment systems fairly and give reasons if refused
If your business runs a designated payment system and a fellow authorised or registered payment service provider asks to send payments through it, you must handle the request objectively, proportionately and without discrimination. You may only limit access where there is a clear risk, and you must not base any restriction on the other provider’s status. If you say no, you must explain why in full.
Use payment accounts only for payment transactions
If your business is an authorised or small payment institution, you must only use the payment accounts you hold to carry out payment transactions. You cannot use those accounts for any other purpose such as lending, investing or any non‑payment activity.
Use payment instruments properly and protect security credentials
If your business has been issued a payment card, virtual payment token or any other payment instrument, you must use it only in line with the provider’s rules and immediately tell the provider if it is lost, stolen or mis‑used. You also need to keep any personal security codes or passwords for the instrument safe and secure.
Notifications 6
Notify customers when refusing a payment order
If your business provides payment services and you refuse to carry out a customer's payment order, you must tell the customer that the payment was refused, explain why (if you can), and give them instructions on how to fix any errors. This notice must be sent in the agreed way, as soon as possible and within the time limits set out in the regulations.
Notify FCA before outsourcing and keep controls in place
If your payment business wants to outsource any part of its payment services, you must tell the FCA before the contract starts and you must make sure the outsourcing does not weaken your internal controls or the FCA’s ability to monitor you. Any later changes to the outsourced function or provider must also be reported to the FCA promptly.
Notify FCA if limited network exclusion payments exceed €1m
If your business provides payment services that fall under the limited network exclusion and the total value of those transactions goes over €1 million in any 12‑month period, you must inform the FCA. The notification must describe the services and specify the exemption you rely on, and it must be sent within the timeframe the FCA sets after the year ends.
Notify FCA of significant changes to your payment services business
If you run an authorised payment institution, a small payment institution or a registered account information service provider, you must tell the FCA as soon as you become aware of any major change that could affect your authorisation, capital, financial limits or the use of agents. The notification must be made promptly, or before the change happens if it is substantial.
Notify users of contract or rate changes at least two months in advance
If you provide payment services, you must give your customers written notice at least two months before any change to the contract terms or the information in Schedule 4. If your contract lets you change terms unilaterally, you must tell users they will be deemed to accept unless they object and that they can terminate the contract without charge. Any interest‑rate changes must be communicated as soon as possible and applied fairly.
Notify your payment provider of unauthorised or incorrect payments
If you discover a payment that was not authorised by you or was processed incorrectly, you must tell your payment service provider as soon as possible and certainly within 13 months of the debit date if you want to claim compensation. If the provider failed to give you the required transaction information, you can still claim even if you did not give notice.
Other requirements 7
Do not block AIS or PIS where you are non‑compliant
If your business provides account‑servicing (e.g., a bank) and has not yet met the required technical standards, you must not refuse or hinder customers from using account information services (AIS) or payment initiation services (PIS). You need to keep those services available even while you are working to become fully compliant.
Make FCA information leaflet freely available to customers
If your business provides payment services, you must give customers free access to the FCA’s consumer‑rights leaflet. It should be posted on your website (if you have one), available in paper form at any branches, agents or outsourced locations, and also provided in formats that people with disabilities can use.
Provide prior general information before framework contracts
Unlimited fineIf your business provides payment services, you must give your customers the information set out in Schedule 4 before they are bound by a framework contract. If the contract is concluded remotely and you cannot give the information beforehand, you must supply it immediately after the contract is signed. You can satisfy the duty by handing over a copy of the draft contract that already contains the required details.
Provide required payment information immediately after initiating a payment order
Unlimited fineIf your business offers a payment initiation service, you must instantly give the payer (and, where relevant, the payee) confirmation that the payment order was received, a reference they can use to identify the transaction, the amount being paid and any fees you charge. You also have to pass that reference on to the payer’s own bank or payment provider.
Provide required pre‑contract information to payment service users
If your business provides single payment services you must give customers certain key details – like the identifier they need, how long the payment will take, any charges and the exchange rate – before they are bound by the contract (or straight after the transaction if it’s a distance sale). If you act as a payment‑initiation service, you also need to give your name, address, contact details and FCA contact information before the payment is started.
Provide users with required information and charge breakdown
If your business offers account‑information services, you must give each user the information set out in Schedule 4 that relates to the service and clearly show any fees you charge, including a breakdown where relevant. This information has to be supplied to the user as part of the service agreement.
Respond to the PSR within 21 days when a compliance failure is proposed
If the Payment Systems Regulator is planning to publish a compliance failure about your business or to impose a penalty, it must first give you written notice. You then have 21 days to submit written representations or evidence that you disagree or to explain why the penalty isn’t necessary.
Payments and fees 15
Compensate other payment providers for losses you cause
If your business acts as a payment service provider or intermediary and a loss occurs because you failed to meet the rules on unauthorised or defective payments (or did not use strong customer authentication), you must pay the other provider back for any money they had to spend to cover the loss. In practice you need to have processes and funds in place to reimburse those losses promptly.
Do not debit payments before receiving the payment order
If your business provides payment services, you must wait until you have actually received a customer's payment order before taking money from their account. "Receipt" is the moment the order reaches you, unless it falls on a non‑business day or after a cut‑off time you set, in which case it is treated as the next business day. You need systems that record receipt times and enforce these rules.
Do not revoke a payment order after it’s been received
If your business sends a payment, you cannot cancel it once the payer’s payment‑service provider has received the order (or after the revocation deadline for direct debits and scheduled payments). You can only cancel later if you have a prior agreement with the provider – and, for direct debits or payee‑initiated payments, also with the payee. Plan any needed cancellations before you send the payment.
Ensure full payment amount is transferred and fees are disclosed
When you act as a payment service provider, you must pass on the whole amount the customer intends to pay – you can’t take any of it as a fee unless the payee has agreed and you’ve clearly told them the fee amount. If any other charges are taken, you must still make sure the payee receives the full original amount.
Inform customers of any payment charges or reductions before the transaction
If your business receives a payment (you are the payee) or you provide payment services, you must tell the other party about any fee you will charge or any discount you are offering for using a particular payment method. This information has to be given before the payment is started, otherwise the customer can refuse to pay the charge.
Make funds available immediately to payees without an account
If your business provides payment services and you accept money for a customer who does not have a payment account with you, you must release that money to the customer straight away as soon as it is credited to your own account. There is no permitted delay.
Pay restitution if ordered by the FCA
If the FCA decides you must repay money (or distribute it to others) under the Payment Services Regulations, you will first receive a warning notice and can make representations. If the FCA then issues a decision notice, you must pay the specified amount to the people they name, following the arrangements they set out. You can also appeal the decision to the Upper Tribunal.
Provide pre‑payment information to payers on request
Unlimited fineIf a customer asks for details before they make a payment under a framework contract, you must tell them how long the payment could take, what fees they will be charged and, where needed, a breakdown of those fees. This information has to be given before the transaction is carried out, so the customer can decide whether to proceed.
Provide prompt availability of cash deposits
If you run a payment service and a customer puts cash into their account in the same currency, you must make the money available straight away for consumers, micro‑enterprises and charities. For all other customers you must have the money available by the end of the next business day.
Provide transaction details to payee immediately after payment
When your business acts as a payment service provider and a payment is completed, you must instantly give the payee a clear breakdown of the transaction. This includes a reference, the amount they receive, any charges taken, the exchange rate (if used) and the date the funds become available.
Refund and compensate for failed payment‑initiation transactions
If a customer uses a payment‑initiation service and the payment is not carried out, is defective or is late, the bank (or other account‑servicing provider) must refund the customer and put the account back in its original state. If the payment‑initiation service cannot prove the fault was not its own, it must immediately pay the bank back for any loss or refund it caused.
Refund and correct defective or late payer‑initiated payments
Unlimited fineIf your business provides payment services and a customer’s payment that they started themselves is not carried out, is faulty, or arrives late, you must quickly refund the money and put the customer’s account back to how it was. You also have to make sure the payee receives the funds on time and, on request, trace the missing payment and tell the customer what happened.
Refund charges and interest for delayed payments
If you run a payment service, you must pay back any fees and interest that a customer would have to cover when a payment order is delayed under regulation 86(2B). This applies even if the payment is never ultimately completed. In practice you need to have a process to calculate and reimburse those amounts promptly.
Refund unauthorised or over‑charged payee‑initiated payments
If a customer makes a payment where the amount wasn’t fixed beforehand and they have been charged more than they could reasonably expect, you must refund the full amount. The refund must be credited to the customer’s account on the same day the original charge was taken, unless you have a contract that explicitly excludes the right to a refund and the customer gave direct consent.
Reimburse user for charges and interest caused by payment failures
If your business provides payment services and a transaction is not carried out, is defective or delayed, you must pay back any fees the customer was responsible for and any interest they incur because of the failure. This liability applies each time a payment service user suffers a loss due to your non‑execution, defective execution or late execution of a payment.
Offences and prohibitions 4
Carry out unauthorised payment services
Unlimited fineIf your business provides a payment service in the UK without a valid FCA authorisation or registration – or pretends to have one – you are deemed to have broken a requirement of the Payment Services Regulations. That breach can lead to criminal prosecution, with the potential for an unlimited fine and a possible custodial sentence.
Give false or misleading information to the FCA or PSR
Unlimited fineIf you knowingly or recklessly supply information that is false or materially misleading to the Financial Conduct Authority or the Payment Systems Regulator – or pass such information to someone who will use it for those regulators – you commit a criminal offence. On conviction you face an unlimited fine, whether the case is dealt with in the magistrates' court or the Crown Court.
Make false claim you are a payment service provider
3 months imprisonmentIf you describe yourself, or behave in a way that suggests, you are a regulated payment‑service provider or exempt when you are not, you commit an offence. On conviction you can be sentenced to up to three months in prison, an unlimited fine, or both. The case is dealt with in the magistrates' court (summary trial).
Provide unauthorised payment services
2 years imprisonmentIf your business offers a payment service in the UK without being an authorised payment institution, a small payment institution, a registered account information service provider, an exempt credit or electronic‑money institution, the Post Office, the Bank of England, a government department, a local authority or otherwise exempt, you commit a criminal offence. On conviction you can be sentenced to up to three months’ imprisonment and a fine in the magistrates’ court, or up to two years’ imprisonment and an unlimited fine in the Crown Court.
Record keeping 2
Keep payment‑service records for at least five years
If your business is an authorised or a small payment institution, you must retain all records that show you are complying with the Payment Services Regulations. Keep those records for at least five years from the date they were created, so the FCA can check your compliance when needed.
Provide evidence of authorised and correctly executed payments
If a customer says they did not authorise a payment or that a payment was not carried out correctly, your business must be able to prove that the transaction was authenticated, recorded accurately and was not affected by a technical failure. If you claim the customer acted fraudulently or was negligent, you must also give them the supporting evidence.
Registration and licensing 7
Apply for authorisation or registration when requirements cease to be met
If your business is a small payment institution and it stops meeting the conditions for that status, or you want to offer services that aren’t allowed under your current registration, you must apply for the correct authorisation or registration within 30 days if you still want to provide payment services in the UK.
Apply to FCA for registration or variation as a small payment institution
If your business wants to become a small payment institution, or change an existing registration, you must submit an application to the FCA with all the information it asks for. The FCA can also tell you to provide extra details before it makes a decision, and you must follow any format or timing directions it gives.
Meet all conditions to register as a small payment institution
If you want to be registered as a small payment institution, you must satisfy a set of FCA conditions – including transaction‑volume limits, not offering account‑information or payment‑initiation services, having a UK head office, and ensuring that the people running the business are fit and proper with no relevant convictions. You need to provide the necessary information and evidence in your application.
Meet FCA conditions for payment institution authorisation
If you want your business to be authorised as a payment institution, you must satisfy a number of FCA conditions before the authorisation is granted. This includes having the required capital, being a UK‑incorporated company with a UK head office, running at least part of the payment service in the UK, putting in place robust governance, risk and internal‑control systems, ensuring directors and major shareholders are fit‑and‑proper, preparing a detailed business plan with safeguards for users' funds, holding relevant professional indemnity insurance, complying with AML registration and managing any close links with other firms.
Meet registration conditions for an account information service provider
If you want to become a registered account information service provider, you must submit an application that satisfies all the FCA’s conditions. This means you can only offer account‑information services (no other payment services) and you must have professional indemnity insurance that covers the territories you intend to operate in and the liability the FCA may set.
Submit a complete FCA authorisation (or variation) application
If you want your business to be authorised as a payment institution, you must send the FCA a full application that includes the information set out in Schedule 2. If you are changing an existing authorisation you must also state the proposed change, the services you will provide and any other information the FCA asks for. The FCA can tell you how to submit the application and may request further details before it decides.
Submit FCA registration application for account information services
If you want to offer account‑information services, you must lodge an application with the FCA. The application must contain all the information set out in Schedule 2 and be presented in the way the FCA tells you. The FCA can also ask for extra information before it decides on your application.
Reporting and filing 10
Notify FCA and provide annual audit for electronic‑communications payment services
If your business offers a payment service that falls under the ‘electronic communications exclusion’, you must tell the FCA about the service and give a description of it before you start providing it (or by 13 Jan 2018 if you were already operating). You also have to supply an annual audit opinion confirming that the transactions stay within the limits set out in the regulation.
Notify FCA of material changes or inaccuracies in your application
If your business has applied to the FCA for authorisation, registration as a small payment institution, or as an account information service provider, you must tell the FCA as soon as you become aware of any material change to the information you supplied, or if you discover that the information was incomplete or inaccurate, before the FCA makes a decision on your application.
Provide contract information on request
If a customer asks, you must give them the information set out in Schedule 4 and the full terms of your framework contract while the contract is still in force. This means keeping those documents ready and sending them promptly whenever a user requests them.
Provide monthly payment details to payees free of charge
If you run a payment service that has a framework contract with a payee, you must send the payee a monthly statement (on paper or any durable medium) showing the transaction reference, amount, any charges, exchange rate and credit date – and you must do it at no cost to the payee. You can meet this by building the requirement into your contract, as long as the payee can store an unchanged copy.
Provide monthly transaction information to payers free of charge
If your business provides payment services under a framework contract, you must give each payer a statement at least once a month, free of charge, showing a reference for the payment, the amount, any charges or interest, the exchange rate used (if any) and the date. The statement can be on paper or any other durable medium agreed with the payer.
Provide required payment details to the payer immediately
When your business receives a payment order from a customer, you must instantly give the customer clear information about that transaction – a reference, the amount, any charges, the exchange rate (if used) and the date you received the order. This lets the customer know exactly what is being paid and any costs involved.
Provide separate payment‑services accounts and audit to the FCA
If your business is an authorised payment institution that also carries out other (non‑payment) activities, you must keep a separate set of accounts just for the payment‑services part of the business. Those accounts must be audited and the auditor may have to report certain material issues to the FCA.
Report information and annual fraud data to the FCA
If your business provides payment services in the UK, you must give the Financial Conduct Authority any information it asks for, and you must also send it statistics on payment‑method fraud at least once a year. The FCA decides the format, timing and how the information is checked, so you need to be ready to supply it when required.
Report major incidents to FCA and inform affected users
Unlimited fineIf your business provides payment services and a major operational or security incident occurs, you must promptly tell the FCA and, where the incident could affect customers' money, you must also inform those customers of what happened and what they can do to protect themselves.
Submit cancellation request in FCA‑directed format
If you decide to give up your payment services authorisation, you must send the request exactly as the FCA tells you to. The FCA can also ask you for extra information before it decides on your request, so be ready to provide whatever is needed.
Penalties for non-compliance
10 penalties under this legislation. 2 can result in imprisonment. 10 carry an unlimited fine.
Make false claim you are a payment service provider
Unlimited fine and/or 3 months imprisonment
Provide unauthorised payment services
Unlimited fine and/or 2 years imprisonment
Fail to provide required charge and exchange‑rate information
Unlimited fine
Provide prior general information before framework contracts
Unlimited fine
Provide required payment information immediately after initiating a payment order
Unlimited fine
Provide pre‑payment information to payers on request
Unlimited fine
Refund and correct defective or late payer‑initiated payments
Unlimited fine
Carry out unauthorised payment services
Unlimited fine
Give false or misleading information to the FCA or PSR
Unlimited fine
Report major incidents to FCA and inform affected users
Unlimited fine
Practical guidance
Our guides explain how to comply with the requirements above.
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Sections and provisions
163 classified provisions from this legislation.
Duties 77
- Schedule 4 Prior general information for framework contracts agreements relating
- s.5 Application for authorisation as a payment institution or variation of an existing authorisation
- s.6 Conditions for authorisation as a payment institution risks
- s.11 Request for cancellation of authorisation
- s.12 Variation of authorisation on FCA's own initiative
- s.13 Application for registration as a small payment institution or variation of an existing registration
- s.14 Conditions for registration as a small payment institution of regulations 11
- s.16 Application for authorisation or registration if requirements cease to be met
- s.17 Application for registration as an account information service provider or variation of an existing registration
- s.18 Conditions for registration as an account information service provider The application
- s.20 Duty to notify changes
- s.22 Capital requirements An authorised payment institution
- s.24 Accounting and statutory audit of the circumstances referred
- s.25 Outsourcing operational function relating
- s.31 Record keeping
- s.32 Additional activities
- s.33 Payment accounts and sums received for the execution of payment transactions
- s.34 Use of agents representations made in response
- s.37 Duty to notify change in circumstance information
- s.38 Notification of use of limited network exclusion the service provider
- ... and 57 more duties
Offences and penalties 10
- s.21 Authorised payment institutions, small payment institutions and registered account information service providers acting without permission
- s.111 Financial penalties
- s.126 Publication of compliance failures and penalties
- s.127 Penalties
- s.138 Prohibition on provision of payment services by persons other than payment service providers
- s.139 False claims to be a payment service provider or exempt
- s.141 Contravention of regulations 57 and 58
- s.142 Misleading the FCA or the Payment Systems Regulator
- s.143 Restriction on penalties
- s.144 Liability of officers of bodies corporate etc
Powers 16
- s.7 Imposition of requirements
- s.10 Cancellation of authorisation
- s.35 Removal of agent from register
- s.71 Limits on the use of payment instruments and access to payment accounts
- s.106 Functions of the FCA
- s.110 Public censure
- s.113 Injunctions
- s.114 Power of FCA to require restitution
- s.116 Restitution orders
- s.120 Guidance
- s.124 Functions of the Payment Systems Regulator
- s.129 Injunctions
- s.131 Appeals against directions and publication of compliance failures
- s.132 Appeals in relation to penalties
- Single Euro Payments Area Single Euro Payments Area
- Technical standards Technical standards
Definitions 13
- Schedule 1 Payment Services relevant person
- s.2 Interpretation the 2000 Act account information service account information service provider
- Schedule 3 Capital requirements Method A Method B Payment volume
- s.23 Safeguarding requirements asset pool authorised insurer authorised credit institution
- s.41 Application of this Part in the case of consumer credit agreements
- s.56 Charges for information
- s.67 Consent and withdrawal of consent
- s.90 Incorrect unique identifiers relevant requirement
- s.123 Interpretation of Part 10 the 2013 Act compliance failure qualifying requirement
- s.125 Directions
- s.134 Guidance general guidance
- s.137 Prohibition on contracting out of statutory requirement
- Schedule 3A Application and modification of the Banking Act 2009 relevant funds asset pool
Exemptions 21
- s.40 Application of Part 6
- s.42 Disapplication of certain regulations in the case of low-value payment instruments
- s.63 Application of Part 7
- s.64 Application of this Part in the case of consumer credit agreements
- s.65 Disapplication of certain regulations in the case of low value payment instruments
- s.68 Confirmation of availability of funds for card-based payment transactions
- s.69 Access to payment accounts for payment initiation services
- s.70 Access to payment accounts for account information services
- s.77 Payer or payee's liability for unauthorised payment transactions
- s.85 Application of regulations 86 to 88
- s.86 Payment transactions to a payment account
- s.92 Non-execution or defective or late execution of payment transactions initiated by the payee
- s.96 Force majeure
- s.101 Dispute resolution
- s.102 Application of regulation 103
- s.107 Application of this Part to requirements of assimilated direct legislation and FCA rules
- s.118 Costs of supervision
- s.121 FCA's exemption from liability in damages
- s.140 Defences
- s.145 Prosecution of offences
- ... and 1 more exemptions