The Payment Accounts Regulations 2015

Regulation 8(2)

SCHEDULE 1 Content and presentational format of the fee information document

Compliance with implementing technical standards

[F1 1.   The fee information document must comply with the requirements of—

(a) Commission Implementing Regulation (EU) 2018/34 of 28 September 2017 laying down implementing technical standards with regard to the standardised presentation format of the fee information document and its common symbol according to Directive 2014/92/EU of the European Parliament and of the Council, as amended from time to time; and

(b) any technical standards made by the Authority under regulation 40A (technical standards) regarding a standardised presentational format of the fee information document and its common symbol.]

Textual Amendments

F1 Sch. 1 para. 1 substituted (31.12.2020) by The Payment Accounts (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/661), regs. 1(3), 14(a) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

Content

2.  The fee information document must—

(a) use the terms featured in the linked services list; and

(b) where the payment service provider offers any service featured in the linked services list, quote the corresponding fee for that service.

Packages of services

3.  Where one or more services featured in the linked services list are offered as part of a package of services linked to a payment account, the fee information document must disclose—

(a) the fee for the entire package;

(b) the services included in the package and their quantity; and

(c) the additional fee for any service that exceeds the quantity covered by the package fee.

Presentational format

4.  The fee information document must—

(a) be a short and stand-alone document;

(b) be presented and laid out in a way that is clear and easy to read using characters of a readable size;

(c) be no less comprehensible in the event that, having been originally produced in colour, it is printed or photocopied in black and white;

(d) be written in English or, if agreed by the consumer and payment service provider, in another language;

(e) be accurate, not misleading, and expressed in the currency of the payment account or, if agreed by the consumer and the payment service provider, in another currency F2 ...;

(f) contain the title “fee information document” at the top of the first page next to the common symbol referred to in paragraph 1 to distinguish the fee information document from other documentation;

(g) include a statement that it contains fees for the most representative services related to the payment account and that complete pre-contractual and contractual information on all the services is provided in other documents.

Textual Amendments

F2 Words in Sch. 1 para. 4(e) omitted (31.12.2020) by virtue of The Payment Accounts (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/661), regs. 1(3), 14(b) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)