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Directive (EU) 2015/2366 of the European Parliament and of the CouncilShow full title

Directive (EU) 2015/2366 of the European Parliament and of the Council of 25 November 2015 on payment services in the internal market, amending Directives 2002/65/EC, 2009/110/EC and 2013/36/EU and Regulation (EU) No 1093/2010, and repealing Directive 2007/64/EC (Text with EEA relevance)

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CHAPTER 2 Single payment transactions

Article 43Scope

1.This Chapter applies to single payment transactions not covered by a framework contract.

2.Where a payment order for a single payment transaction is transmitted by a payment instrument covered by a framework contract, the payment service provider shall not be obliged to provide or make available information which is already given to the payment service user on the basis of a framework contract with another payment service provider or which will be given to him according to that framework contract.

Article 44Prior general information

1.Member States shall require that before the payment service user is bound by a single payment service contract or offer, the payment service provider makes available to the payment service user, in an easily accessible manner, the information and conditions specified in Article 45 with regard to its own services. At the payment service user’s request, the payment service provider shall provide the information and conditions on paper or on another durable medium. The information and conditions shall be given in easily understandable words and in a clear and comprehensible form, in an official language of the Member State where the payment service is offered or in any other language agreed between the parties.

2.If the single payment service contract has been concluded at the request of the payment service user using a means of distance communication which does not enable the payment service provider to comply with paragraph 1, the payment service provider shall fulfil its obligations under that paragraph immediately after the execution of the payment transaction.

3.The obligations under paragraph 1 of this Article may also be discharged by supplying a copy of the draft single payment service contract or the draft payment order including the information and conditions specified in Article 45.

Article 45Information and conditions

1.Member States shall ensure that the following information and conditions are provided or made available by the payment service provider to the payment service user:

(a)

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

(b)

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

(c)

all charges payable by the payment service user to the payment service provider and, where applicable, a breakdown of those charges;

(d)

where applicable, the actual or reference exchange rate to be applied to the payment transaction.

2.In addition, Member States shall ensure that payment initiation service providers shall, prior to initiation, provide the payer with, or make available to the payer, the following clear and comprehensive information:

(a)

the name of the payment initiation service provider, the geographical address of its head office and, where applicable, the geographical address of its agent or branch established in the Member State where the payment service is offered, and any other contact details, including electronic mail address, relevant for communication with the payment initiation service provider; and

(b)

the contact details of the competent authority.

3.Where applicable, any other relevant information and conditions specified in Article 52 shall be made available to the payment service user in an easily accessible manner.

Article 46Information for the payer and payee after the initiation of a payment order

In addition to the information and conditions specified in Article 45, where a payment order is initiated through a payment initiation service provider, the payment initiation service provider shall, immediately after initiation, provide or make available all of the following data to the payer and, where applicable, the payee:

(a)

confirmation of the successful initiation of the payment order with the payer’s account servicing payment service provider;

(b)

a reference enabling the payer and the payee to identify the payment transaction and, where appropriate, the payee to identify the payer, and any information transferred with the payment transaction;

(c)

the amount of the payment transaction;

(d)

where applicable, the amount of any charges payable to the payment initiation service provider for the transaction, and where applicable a breakdown of the amounts of such charges.

Article 47Information for payer’s account servicing payment service provider in the event of a payment initiation service

Where a payment order is initiated through a payment initiation service provider, it shall make available to the payer’s account servicing payment service provider the reference of the payment transaction.

Article 48Information for the payer after receipt of the payment order

Immediately after receipt of the payment order, the payer’s payment service provider shall provide the payer with or make available to the payer, in the same way as provided for in Article 44(1), all of the following data with regard to its own services:

(a)

a reference enabling the payer to identify the payment transaction and, where appropriate, information relating to the payee;

(b)

the amount of the payment transaction in the currency used in the payment order;

(c)

the amount of any charges for the payment transaction payable by the payer and, where applicable, a breakdown of the amounts of such charges;

(d)

where applicable, the exchange rate used in the payment transaction by the payer’s payment service provider or a reference thereto, when different from the rate provided in accordance with point (d) of Article 45(1), and the amount of the payment transaction after that currency conversion;

(e)

the date of receipt of the payment order.

Article 49Information for the payee after execution

Immediately after the execution of the payment transaction, the payee’s payment service provider shall provide the payee with, or make available to, the payee, in the same way as provided for in Article 44(1), all of the following data with regard to its own services:

(a)

a reference enabling the payee to identify the payment transaction and, where appropriate, the payer and any information transferred with the payment transaction;

(b)

the amount of the payment transaction in the currency in which the funds are at the payee’s disposal;

(c)

the amount of any charges for the payment transaction payable by the payee and, where applicable, a breakdown of the amounts of such charges;

(d)

where applicable, the exchange rate used in the payment transaction by the payee’s payment service provider, and the amount of the payment transaction before that currency conversion;

(e)

the credit value date.

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