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The Payment Services Regulations 2009

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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 executed;

(c)the form and procedure for giving consent to the execution of a payment transaction and for the withdrawal of consent in accordance with regulation 55;

(d)a reference to the time of receipt of a payment order, as defined in regulation 65, 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 56(1).

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