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The Payment Accounts Regulations 2015

The Payment Accounts Regulations 2015 Sch 3 para 6

Sch 3 para 6 Fees connected with the switching service

(1) At the request of a consumer, transferring and receiving payment service providers must provide the consumer with access free of charge to details of any standing orders and direct debits applicable to the accounts the consumer holds with them. (2) The transferring payment service provider must not charge the consumer or the receiving payment service provider for the provision of information requested from it by the receiving payment service provider pursuant to paragraph 3(a) and (b). (3) Any fee payable by the consumer applied by the transferring payment service provider in respect of the termination of the framework contract for the payment account held with the transferring payment service provider must be determined in accordance with regulation 51 (termination of framework contract) of the Payment Services Regulations. (4) Transferring or receiving payment service providers may charge the consumer a fee for any task referred to in paragraphs 3 to 5 that is not subject to the provisions in sub-paragraphs (1) to (3) provided that any such fee is— (a) reasonable; and (b) no more than the actual costs to the payment service provider of carrying out the relevant task.

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