The Payment Services Regulations 2009 No. 209

PART 6 RIGHTS AND OBLIGATIONS IN RELATION TO THE PROVISION OF PAYMENT SERVICES

Execution time and value date

Cash placed on a payment account

72.  Where a payment service user places cash on its payment account with a payment service provider in the same currency as that payment account, the payment service provider must—

(a) if the user is a consumer, micro-enterprise or charity, ensure that the amount is made available and value dated immediately after the receipt of the funds;

(b) in any other case, ensure that the amount is made available and value dated no later than the end of the business day after the receipt of the funds.