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The Payment Accounts Regulations 2015

The Payment Accounts Regulations 2015 Sch 5 para 5

Sch 5 para 5 Information about the alternative arrangement

(1) A participating payment service provider must make available to consumers the following information about the alternative arrangement— (a) the roles played by participating payment service providers when switching payment accounts; (b) the time limits that apply for the completion of any tasks provided for in the alternative arrangement; (c) any fees that are to be be charged; (d) details of any information that the consumer is required to provide; (e) details of the consumer’s right to make a complaint to the Financial Ombudsman Service. (2) The information referred to in sub-paragraph (1) must be made available — (a) free of charge on paper or another durable medium at all premises of the participating payment service provider that are accessible to consumers; and (b) in electronic form on the participating payment service provider’s website at all times.

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