The Payment Accounts Regulations 2015

Fee information document

8.—(1) Without affecting the requirements of—

(a) Part 5 (information requirements for payment systems) of the Payment Services Regulations;

(b) any rules made by the Authority under Part 9A(1) (rules and guidance) of the Act for the purposes of implementing Article 12 of Directive 2008/48/EC of the European Parliament and of the Council on credit agreements for consumers(2);

(c) regulations 3(3) (information to be disclosed: agreements other than telephone contracts, non-telephone distance contracts, excluded pawn agreements and overdraft agreements), 4 (information to be disclosed: telephone contracts), 5 (information to be disclosed: non-telephone distance contracts), 10(4) and 11(information to be disclosed: overdraft agreements) of the Consumer Credit (Disclosure of Information) Regulations 2010(5); and

(d) sections 55C(6) (copy of draft consumer credit agreement) and 61B(2)(7) (duty to supply copy of overdraft agreement) of the Consumer Credit Act 1974(8),

any payment service provider that offers a payment account must ensure that, in good time before entering into a contract for a payment account with a consumer, it provides the consumer with a fee information document.

(2) Schedule 1 makes further provision regarding the fee information document.

(1)

Part 9A was substituted for the original Part 10 (sections 138-164) by section 24(1) of the Financial Services Act 2012.

(2)

OJ No L 133, 22.5.2008, p66.

(3)

Regulation 3 was amended by S.I. 2010/1969 and S.I. 2013/1881.

(4)

Regulation 10 was amended by S.I. 2010/1969 and S.I. 2011/11.

(5)

S.I. 2010/1013.

(6)

Section 55C was inserted by S.I. 2010/1010 and amended by S.I. 2013/1881 and S.I. 2015/910.

(7)

Section 61B was inserted by S.I. 2010/1010.

(8)

1974 c.39.