Schedule 4, paragraph 2

The following information about the payment service— a description of the main characteristics of the payment service to be provided; the information or unique identifier that must be provided by the payment service user in order for a payment order to be properly initiated or executed; the form and procedure for giving consent to the initiation of a payment order or execution of a payment transaction and for the withdrawal of consent in accordance with regulation 67 (consent and withdrawal of consent); a reference to the time of receipt of a payment order, in accordance with regulation 81 (receipt of payment orders), and the cut-off time, if any, established by the payment service provider; the maximum execution time for the payment services to be provided; whether spending limits for the use of a payment instrument may be agreed in accordance with regulation 71(1) (limits on the use of payment instruments); in the case of co-badged card-based payment instruments, the payment services user's rights under Article 8 of the interchange fee regulation.

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Source: legislation.gov.uk · retrieved 2026-09-04